The formal merger of Karstadt and Galeria Kaufhof department stores into a single company - Galeria Karstadt Kaufhof - was initiated by a decision of the Supervisory Board of Karstadt on Wednesday, 6 November 2019. By 31 January 2020 at the latest, the legal merger of Galeria Kaufhof with Karstadt department store should be completed. In addition, the Supervisory Board of Karstadt approved, in an internal meeting on Wednesday, a multi-year extension of the mandates of the managing directors.

In addition to CEO Stephan Fanderl, Chief Financial Officer and Labor Director Miguel Müllenbach, Thomas Wanke (Sales), Claudia Reinery (Category Management and Marketing) and Guido Mager (Investments) lead the new joint venture. Guido Mager, formerly Chief Financial Officer of Galeria Kaufhof, has been appointed to the management board.

We wish the executive team all success.