- Push-out Score determined
- After almost 11 years in the position
- Accolades, praise and words of regret for Ritter
- No successor named
- Ritter spoke at length and said 182 words
(exechange) — Berlin, Germany, December 6, 2020 — Rubin Ritter, co-chief executive of Zalando, leaves. As announced by Zalando SE in a news release on Sunday, December 6, 2020, Rubin Ritter leaves his post as co-chief executive officer of the online platform for fashion and lifestyle after almost 11 years in the role, effective at the AGM in 2021.
Zalando did not name a replacement for the position of Co-Chief Executive Officer.
“My wife and I have agreed that for the coming years, her professional ambitions should take priority”
Rubin Ritter’s departure from the Co-CEO post is explained as follows. Ritter said: “After more than 11 amazing years where Zalando has been my priority, I feel that it is time to give my life a new direction. I want to devote more time to my growing family. My wife and I have agreed that for the coming years, her professional ambitions should take priority.”
Precise information regarding Rubin Ritter’s future plans was not immediately available.
Zalando said: “Zalando SE Co-CEO Rubin Ritter has today informed Cristina Stenbeck, Chairperson of the Supervisory Board, about his intention to step down from his role as Co-CEO at the AGM in 2021. Cristina Stenbeck announced that the Supervisory Board will work together with Mr. Ritter to dissolve his contract, which as of today runs until November 2023.”
Share price increase since December 2019
The announcement follows an increase in Zalando SE’s share price of 101% since December 2019.
Chaired by Cristina Stenbeck
Cristina Stenbeck serves as Zalando SE’s Chairperson of the Supervisory Board.
In the position of Co-CEO since 2010
Rubin Ritter became Co-CEO of the Company in 2010.
Rubin Ritter is Co-CEO of Zalando and has been a Member of the Management Board at Zalando SE since he joined the company in 2010.
He is responsible for strategy and communications.
From 2007 to 2009, Rubin Ritter worked at McKinsey & Company.
He graduated from the WHU – Otto-Beisheim Graduate School of Management in 2007 with a degree in Business Administration.
In 2006, he was awarded an MBA from the University of Texas (USA).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Zalando and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 50.2020 ($).