CEO Markus Rech to leave Takko Fashion

Takko Fashion, a leading European smart fashion discounter, announced today that CEO Markus Rech will leave the company by mutual agreement. His responsibilities will be taken over by Karl-Heinz Holland as Executive Chairman of Takko Fashion on an interim basis with immediate effect. Takko Fashion sincerely thanks Markus Rech for his contributions in the past time.

Karl-Heinz Holland had already taken on the role of interim CEO earlier this year and successfully led the company through the Corona crisis during this time. Most recently, he has continued to work closely with the management and the company as Chairman of Takko Fashion’s Advisory Board. „Karl-Heinz is very familiar with the details of the company. We are therefore very pleased that, in addition to his role as Chairman of the Advisory Board, he will be supporting the operational management of Takko Fashion with immediate effect, as well as being available to the company as Managing Director”, explains Tom Hall, Apax Partners.

Karl-Heinz Holland, Executive Chairman Takko Fashion: „I feel deeply connected to Takko Fashion and to all colleagues through the many years of cooperation. Therefore, I look forward to continuing the close and trusting collaboration with the team. With its business model and Europe-wide branch network, Takko Fashion is very well positioned. As of last week, all stores are open again in 16 of the 17 countries where Takko Fashion is active. And also in Germany a clear turnaround is emerging. Overall, we have been able to significantly increase our turnover week by week since this month.”

In addition, as planned, Ernst de Kuiper, who had been interim CFO since the beginning of the year, is departing from the company. Ernst de Kuiper joined at an important time for the business and meaningfully helped the company to navigate the lockdown situation as well as the business did. In a very short period of time, he managed to have a positive impact on the financial department. Takko Fashion would like to thank him for that. Until a successor is appointed in a timely manner, his duties will be carried out with immediate effect by Markus Nagel, who has already closely supported the company on financial issues in his role as Operating Executive, Finance Practice Lead, at Apax Partners.

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