Salando co-CEO said it was time to prioritize his wife’s career

Salando co-CEO said it was time to prioritize his wife’s career

Rubin Ritter, a member of the management board at Salando SE, gestures during an interview on Monday, September 26, 2016 at the headquarters of an online retailer of technology in Berlin, Germany.

Christian Boxie | Bloomberg by Getty Images

London: The co-CEO of Europe’s largest online fashion and lifestyle site has announced plans to step down next year. He said he and his wife agreed to prioritize his professional aspirations.

Rubin Ritter, who has been co-chief of Salando since 2010, said on Sunday that he would like to relinquish his role at the next annual general meeting in May 2021.

“My decision is the result of several months of careful consideration. With more than 11 years of Salando as my priority, I feel it is time to give my life a new direction,” Ritter said in a statement.

“I want to spend more time with my growing family. My wife and I have agreed to prioritize her professional aspirations for years to come,” he added.

Ritter said he intends to step down from his job to pursue “new interests beyond Salanto.”

After Ritter’s departure, Robert Gents and David Schneider will lead Salando as co-CEOs.

The Salando logo is found on a building in the Friedrich Kെയ്szne-Krusberg district of Berlin, Germany.

Emmanuel Contini | Norphoto | Getty Images

Gents, Schneider and Ritter have led the company since 2010. At the time, the Berlin – based startup had become Europe’s leading online fashion and lifestyle platform, with 35 million active customers in 17 markets.

Salando reported revenue of 1.85 billion euros ($ 2.24 billion) in the third quarter. Raised its full-year guidance in the context of profitable growth.

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Salando’s stake is up 74% year-on-year.

“It is impossible to overestimate Rubin’s influence in Salando’s success. We will lose him as a strategic thinker and leader,” Gents said in a statement.

“Rubin has always been a role model for many in the company. We owe him a lot as a business partner and friend. I’m sure he’s in close contact with Salando,” Schneider added.

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