CHARLES VÖGELE: CHANGES TO THE EXECUTIVE MANAGEMENT

Pfäffikon, 14. September 2017 - Markus Voegeli, CEO of the Charles Vögele Group, will leave the company at the end of November 2017. Markus Voegeli has worked at the company since September 2009 and has been CEO since 2012. He has made a decisive contribution to the restructuring of the Charles Vögele company. After an extensive turnaround program, Charles Vögele delivered a break-even result once more in 2014. However, the release of the Euro/Swiss franc exchange rate at the beginning of 2015 by the Swiss National Bank increased the financial pressure and under his guidance Charles Vögele actively examined strategic alternatives to go it alone.

"With the takeover last December by Sempione Retail AG, he secured a sustainable future for the company and a large number of jobs," says Stefano Beraldo, Chairman of the Board of Charles Vögele Holding AG.

"We would like to thank Markus Voegeli for his support and tireless efforts in terms of strategic cooperation with OVS. Over the last few months, he has substantially supported the transformation of Charles Vögele from a vertically integrated textile company to a sales organisation with the OVS collection. The board of directors and the management team regret his decision and wish him all the best in the future, both professionally and personally.

From mid October on, Markus Voegeli will be jointly succeeded by Jürg Bieri, the current CFO of the Charles Vögele Group, and Francesco Sama, General Manager of OVS Brand since 2011. As CEO Corporate Functions and CV Brand, Jürg Bieri will take over the responsibility for the resources and performance management of the group as well as the branches in Germany, Austria and Hungary operating under the Charles Vögele brand. Jürg Bieri works since 18 years for Charles Vögele - since February this year in the role of CFO. As the CEO of the OVS Brand, Francesco Sama has full operational responsibility for the growing business under the OVS brand name. He already actively supports the go-to-market strategy of OVS in Switzerland, Slovenia and Austria and works since many years for OVS.S.p.A. "In Jürg Bieri and Francesco Sama we have two experienced leaders heading up the company. Both are very familiar with the company and the OVS brand. This will ensure continuity and expertise for the company," says Stefano Beraldo about the decision.