Today, Dr Stephan Fanderl agreed with SIGNA Retail to leave the company at his own request, and at the same time hand over the management of Galeria Karstadt Kaufhof and the European Department Store Holding. The separation takes place by mutual agreement. Stephan Fanderl, who suffered massive spinal disc damage at the end of 2019, very much regrets that he has had to undergo the necessary rehabilitation measures since mid-March and had to experience the development of survival measures for the Galeria Karstadt Kaufhof Group from outside.

Stephan Fanderl was responsible for the development of the retail activities of SIGNA Retail for seven years and had expanded the company to one of the leading omni-channel retailers in Europe with sales of €8.5bn through acquisitions in both the stationary and online sectors. During this time, he managed major holdings in the SIGNA portfolio as CEO, overlooked the restructuring of the Karstadt department store until 2017, and was responsible for the merger between Karstadt and Kaufhof since 2018.

As it is the case since the beginning of the protective shield procedure, Galeria Karstadt Kaufhof is be led by Miguel Müllenbach, CFO, the company’s general representative Arndt Geiwitz and Dr. Frank Kebekus, the administrator appointed by the court.

On behalf of IGDS we thank Stephan Fanderl for his strong support to our group and members and we hope to meet again in the near future. Also, join us in congratulating Miguel Müllenbach to his new responsibilities and wish him and his team all success.