Strenesse fires two board members

Just short of four months after he was appointed CEO of German fashion house Strenesse, Peter Kappler is leaving the company. In a statement, the firm announced that Kappler and Marc Hofig had “left the company at the end of last week in response to a resolution approved by the supervisory board at Strenesse AG.” Hofig was CFO and also a member of the management board.

Gerd Strehle, the company's majority shareholder who became non-executive chairman when Kappler took over, is taking over the responsibilities of both executives.

“It is intended that a new director will be appointed to the board of management within the very near future,” the statement continued.
Kappler joined the company in 2000 and was initially responsible for marketing and international sales. Prior to that, he was director of international sales at Hugo Boss and before that co-director at Joop.

Earlier this year, Gerd Strehle said that Kappler's joining Strenesse “was a prerequisite to place the operating responsibility into younger hands at any given point in time. After five years of fruitful cooperation, I'm absolutely convinced that Peter Kappler will take the company into a successful future.”
He changed his tune this week, however, when he said that Kapplers' departure “will ensure that the company will continue to be successful.”

In May the company realised a turnover of €125 million (£85.4 million), up from €108 million the year before.

www.strenesse.com
24 November 2005

Kappler new CEO Strenesse

Peter Kappler has been appointed CEO of German fashion house Strenesse. He will be taking over from Gerd Strehle, Strenesse's majority shareholder, who will become non-executive chairman of the house. Strehle will function as an adviser to the management and supervisory board.

The company's creative director Gabriele Strehle will stay on in her current capacity and CFO Marc Hofig will become the second member of the management board.

Kappler joined the company in 2000 and his most recent position with Strenesse was that of member of the management board responsible for marketing and international sales. Prior to his joining the company he was director of international sales at Hugo Boss and then co-director of Joop GmbH.

In a statement Strehle said that Kappler's entry into Strenesse "was a prerequisite to place the operating responsibility into younger hands at any given point in time. "After five years of fruitful cooperation, I'm absolutely convinced that Peter Kappler will take the company into a successful future."

www.strenesse.com
20 July 2005

Strenesse cancels Milan show

German clothing maker Strenesse, will not present its womenswear fashion collection at the Milan Fashion Week in September. The companies director said in a statement that "Hard times call for hard measures". Strenesse cancelled the show for the second time in seven years and added it would invest its money and energy in the product and selling points. In the mean time it will examine possible means for cutting costs.

In May Strenesse, which is based in Nördlingen, posted a turnover of € 125 million compared to € 108 million a year earlier. This includes licensing revenues of € 17 million. Due to the company's new menswear collection and acquisitions, Strenesses’ pre-tax profit margin fell far short of the five per cent previously expected for the period.

09-10-02