Fashion boss announces plans to step down, says it is time to prioritize wife’s career

Rubin Ritter, member of the administration board at Zalando SE, gestures while talking throughout an interview on the on-line retailer’s expertise headquarters in Berlin, Germany, on Monday, Sept. 26, 2016.

Krisztian Bocsi | Bloomberg through Getty Images

LONDON — A co-CEO of Europe’s largest on-line vogue and life-style web site has introduced plans to step down subsequent yr, saying he and his spouse have agreed that her skilled ambitions ought to take precedence.

Rubin Ritter, who has labored as co-chief of Zalando since 2010, stated Sunday that he intends to depart his position on the subsequent annual common assembly in May 2021.

“My decision is the result of many months of careful consideration. 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,” Ritter stated in an announcement.

“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,” he added.

Ritter stated he plans to give up so as to pursue “new interests beyond Zalando,” reducing brief a contract that presently runs by means of to November 2023.

Robert Gentz and David Schneider will proceed to lead Zalando as co-CEOs after Ritter’s departure.

The Zalando emblem is seen on a constructing within the district of Friedrichshain-Kreuzberg in Berlin, Germany

Emmanuele Contini | NurPhoto | Getty Images

Gentz, Schneider and Ritter have all led the corporate since 2010. In that time, the Berlin-based start-up has emerged as Europe’s main on-line vogue and life-style platform, with 35 million lively prospects in 17 markets.

Zalando recorded income of 1.85 billion euros ($2.24 billion) within the third quarter and upgraded its full-year steering on the again of strong worthwhile development.

Shares of Zalando are up greater than 74% year-to-date.

“It is impossible to overstate Rubin’s impact on Zalando’s success. We will miss him dearly as a strategic thinker and leader,” Gentz stated in an announcement.

“Rubin always has been a role model to many in the company. We owe him a lot, as a business partner and friend. I am sure that he will stay closely connected to Zalando,” Schneider added.

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