Hagen, 22 September 2015. DOUGLAS HOLDING AG decided to appoint Erika Tertilt, Managing Director Finance of Douglas Perfumeries, as the CFO of DOUGLAS Group. At the same time, DOUGLAS HOLDING AG agreed with board members that Dr Dennis Schulze and Nicholas Denissen will leave the business as of 30 September 2015. The decision was made jointly between all parties, including the supervisory board of DOUGLAS HOLDING and its owners.

Dr Dennis Schulze joined DOUGLAS HOLDING AG as CFO in 2013 in order to facilitate the transition from a diversified, largely domestically focused German retailer into an international beauty chain. This transformation has been completed highly successfully.

Erika Tertilt will succeed him in the role of CFO of the DOUGLAS Group. Tertilt has already successfully headed the finance function of the Douglas Perfumeries since 2013.

Nicholas C. Denissen, board member responsible for the e-commerce business, will continue his career in his native USA for personal reasons after almost three years at Douglas and more than 20 years of professional experience in Europe. During his time at Douglas, he has been instrumental in driving the integration of brick-and-mortar, online and mobile retailing, and the reorganisation and continued development of the e-commerce team as well as the successful expansion of the multi-channel offering. Until further notice, the e-commerce business will report directly to CEO Dr Henning Kreke. Dr Henning Kreke, CEO of DOUGLAS HOLDING AG, comments:

“In his role as CFO, Dennis Schulze has made a crucial contribution to the successful transformation of Douglas into a leading European beauty specialist. Building on this growth strategy based on robust earnings and financials will remain a top priority for us.

Nicholas Denissen has successfully advanced the online business since joining our company. Together, we have strengthened Douglas‘ leading position in multi-channel retailing where we now serve over five million satisfied customers across 15 countries.

We thank Dr Dennis Schulze and Nicholas Denissen very much for their outstanding and successful contributions to our company and their loyal support. It was a pleasure to work with them. We wish them both the very best and every success in their future endeavours.”