The management board of Wolford AG has analyzed the effects of the increasing spread of the coronavirus and expects this global epidemic to have a significant negative impact on the development of sales and earnings of the Wolford Group. In Italy, where the virus has hit particularly hard, Wolford's sales have fallen by about 50%
Wolford AG announced today that the Supervisory Board appointed Silvia Azzali (48), the present Global Sales & Merchandising Director of Wolford AG, to serve on the Management Board as the companys Chief Commercial Officer (CCO). Starting on November 1, 2019, the Wolford manager will be responsible for the areas of Sales & Merchandising, Marketing and
At its meeting today, the Supervisory Board of Wolford AG appointed Silvia Azzali (48), Global Sales & Merchandising Director of Wolford AG, to serve as a new Member of the Management Board. Chief Executive Officer (CEO) Axel Dreher resigned from his Management Board position today on the most amicable terms with the Supervisory Board and
Mrs. Mag. (FH) Brigitte Kurz (CFO), member of the board of Wolford AG, has stepped back from her position. In best accordance with Supervisory Board she will continue to serve as board member until end of October 2019.The Supervisory Board today appointed Andrew Thorndike as a new member of the Management Board. Andrew Thorndike will
Wolford AG, ISIN AT0000834007, has reached an agreement with its Austrian banking partners to extend its lines of credit until June 30, 2021. Accordingly, the financing of ongoing business operations has been secured over the next two years. The agreement still requires contractual implementation and the formal board approval by the banks. For organizational reasons,
In view of the continuing negative revenue developments in the financial year 2018/19 (May 2018 to February 2019: -9 %), the management board initiated comprehensive restructuring measures with sustainable cost saving potential to bring the company's cost structure in line with the revenues. The expected savings potential significantly exceeds ten million euros. In addition, sales
After being presented with the results of the Christmas business and in light of the ongoing market weakness in January 2019, the Management Board does not expect the company to achieve positive operating earnings (EBIT) in the current 2018/19 financial year (May 1, 2018 - April 30, 2019) in spite of the positive cost effects
Bregenz, 22.06. 2018. At its meeting today, the Supervisory Board of Wolford AG resolved to extend the current employment contracts of the two Management Board members Axel Dreher (CEO) and Brigitte Kurz (CFO) scheduled to expire on October 31, 2018. They have been appointed to serve until April 30, 2021 and will thus remain in
18 June 2018 Today, the management board of Wolford AG set the subscription period from 21 June until and including 5 July 2018 as well as the value date of 11 July 2018 for the ordinary capital increase from currently EUR 36,500,000 to EUR 48,848,227.88 by issue of 1,719,151 new shares. As already resolved upon
Fosun Industrial Holdings Limited and representatives of the former major shareholder group (WMP Familien-Privatstiftung, Sesam Privatstiftung und M. Erthal & Co. Beteiligungsgesellschaft m.b.H. and related natural persons) informed the company that the share purchase agreement dated 1 March 2018 (see ad hoc announcement dated 1 March 2018) was successfully closed today. Fosun Industrial Holdings Limited