Leifheit Aktiengesellschaft: Changes in the Management Board

Leifheit AG: Changes in the Management Board

• CFO Ivo Huhmann will leave the company end of March 2020
• Management Board will consist of two members in the future
• CEO Henner Rinsche will take over CFO function in personal union

Nassau, 2 December 2019 - Leifheit AG, one of the leading European brand suppliers of household products, announces changes in the Management Board.

Ivo Huhmann, since April 1, 2017 member of the Board of Management and Chief Financial Officer (CFO), departs from the company by the end of his contract term on March 31, 2020. The supervisory board thanks Mr Huhmann for his committed service and excellent work over the last two and a half years. "As a member of the Board of Management, Mr Huhmann laid decisive strategic cornerstones for improving process sequences and the IT system landscape. At the same time, he pushed forward the expansion of E-Commerce activities, implemented measures to improve customer service, laid the base for a company-wide pricing system and implemented an efficient coordination process between Sales and Operations. In doing so, he laid the foundation for profitable growth in the future", says Dr Günter Blaschke, Chairman of the Leifheit AG Supervisory Board.

As a part of the efficiency measures of the Leifheit Group, the Supervisory Board decided to reduce the size of the Management Board from three to two members, effective with the departure of Mr Huhmann. Henner Rinsche, Chairman of the Board of Management and CEO of Leifheit AG since June 1, 2019, will take over the function of the CFO in personal union. In addition to Sales, Marketing and Human Resources/Legal/IP, he will also be in charge of the departments Finance, Controlling and Business Processes/IT in the future. The Board of Management further consists of Igor Iraeta Munduate, who has been responsible for the departments Purchasing, Production, Logistics and R&D as Chief Operating Officer (COO) since November 1, 2018.

About Leifheit

Leifheit AG, founded in 1959, is one of the leading European brand suppliers of household items. The Leifheit Group divides its operating business into the Household, Wellbeing and Private Label segments. Leifheit and Soehnle products - two of Germany's best-known brands - are known for high quality and great utility for consumers. Its French subsidiaries Birambeau and Herby are also active in the service-oriented Private Label segment with a selected product range. In each segment, the company focuses on its core areas of expertise in the product categories of cleaning, laundry care, kitchen goods and wellbeing. The Leifheit Group employs some 1,100 people and operates 15 locations and branches of its own around the world. Leifheit AG shares have been listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange since 1984. More information on Leifheit is available online at www.leifheit-group.com, www.leifheit.de and www.soehnle.de.