The Chairwoman of the Management Board Silvia Azzali and the Supervisory Board of Wolford AG have agreed on a mutually agreed termination of her Management Board mandate as of June 14, 2024.

The Supervisory Board would like to thank Ms. Azzali for her commitment to the company. Ms. Azzali has been a member of the Executive Board since November 2019, first as Chief Commercial Officer and then as Chief Executive Officer. During her tenure, she successfully developed and implemented a new brand and product strategy for Wolford, continuously increased revenues, reversed the EBITDA loss of 2022 and achieved the first positive unadjusted EBITDA since 2016.

The Supervisory Board has decided to appoint Regis Rimbert, recently appointed Chief Transformation Officer on the Executive Board of Wolford AG, as CEO for a period of three years to replace Ms. Azzali. Mr. Rimbert brings extensive experience in the fashion industry: In addition to his in-depth experience in retail at renowned fashion companies such as Prada and Christian Dior, he also knows Wolford and the Lanvin Group very well. He held management positions in both companies and supported Wolford with his own company Uptify, founded in 2018, in the area of retail management for Northern Europe.