DGAP-News: Westwing announces changes to its Management Board

Westwing announces changes to its Management Board

• Sebastian Säuberlich will succeed Dr. Dr. Florian Drabeck as CFO effective April 1, 2020
• Founder & Chief Creative Officer Delia Lachance (née Fischer) starts her maternity leave, which is planned for six months, in March 2020 and has therefore stepped down from the Management Board, as legally required

Munich, March 3, 2020. Westwing, the leader in inspiration-based Home and Living eCommerce in Europe, today announced changes to its Management Board. As of April 1, 2020, Sebastian Säuberlich will succeed Dr. Dr. Florian Drabeck as CFO of Westwing, who is leaving to pursue other interests. Moreover, Delia Lachance starts her maternity leave in March 2020. As the current legal framework in Germany does not provide the opportunity of maternity leave to board members of stock corporations, she has stepped down from her role as Board Member effective March 1, 2020. Her maternity leave is expected to last six months.

Stefan Smalla, Founder & CEO of Westwing, says: "We are very grateful to Florian and his dedicated service as our CFO and Management Board Member. During over eight years at Westwing, Florian was instrumental in establishing and leading our Finance function as well as in the successful IPO of our company." Regarding Delia Lachance, Stefan Smalla adds: "We are very happy for Delia and her family and wish her all the best for the exciting upcoming months. At the same time, we look forward to counting on her vision, creativity and commitment in our team again very soon."

Delia Lachance, Founder & Chief Creative Officer of Westwing, says: "I am already looking forward to my return to our company which I expect to be in six months. In the meantime, my fantastic Creative team will more than cover for my absence. Of course, I will continue to be part of the Westwing team, closely following all developments and communicating the details of my return to the business at the appropriate time."

Sebastian Säuberlich will seamlessly take over his new responsibilities after having worked with Dr. Dr. Florian Drabeck for more than a year as Deputy CFO and CFO DACH. He joined Westwing in 2014 as Managing Director Buying/Operations in the DACH Daily Themes business and later assumed the position of Managing Director Operations in the Private Label business. Therefore, he has a deep understanding of the core pillars of the business and a proven track record as a leader at Westwing. Prior to joining Westwing, Sebastian gained experience in the role of CFO and COO during his time at Confiserie Heilemann GmbH, as an investment professional for DPE Deutsche Private Equity GmbH, and as a Senior Consultant for Bain & Co. In total, he has 15 years of professional experience. He holds an MBA from INSEAD Business School and studied Business and Engineering at the Karlsruhe Institute of Technology.

"We, the Supervisory Board, are very happy that Westwing continues to have such a strong management team going forward", says Christoph Barchewitz, Chairman of the Supervisory Board.

About Westwing

Westwing is the leader in inspiration-based Home and Living eCommerce in Europe with EUR 254m of revenue in 2018. Through its 'shoppable magazine', Westwing inspires its loyal, mostly female customers with a curated product selection and combines that with gorgeous content. With unparalleled loyalty, Westwing is generating more than 80% of sales from repeat customers. Westwing's mission is: To inspire and make every home a beautiful home. The company was founded in 2011 and is headquartered in Munich. Westwing went public on the Frankfurt Stock Exchange in October 2018 and is active in eleven European countries.

Disclaimer

Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. You should not rely on these forward-looking statements as predictions of future events and the Company undertakes no obligation to update or revise these statements. The Company's actual results may differ materially and adversely from any forward-looking statements discussed in this press release due to a number of factors, including without limitation, risks from macroeconomic developments, external fraud, inefficient processes at fulfilment centres, inaccurate personnel and capacity forecasts for fulfilment centres, hazardous material / conditions in production with regard to private labels, lack of innovation capabilities, inadequate data security, lack of market knowledge, risk of strike and changes in competition levels.