BERLIN — Beiersdorf AG is losing its executive board member for the Europe and North America regions.
Peter Feld, who has served in the position since August 2010, will leave the company on July 31 on amicable terms. Until further notice, his duties will be assumed by Stefan F. Heidenreich, chief executive officer of the Hamburg-based cosmetics and adhesives company.
In financial reports released this month, the manufacturer of Nivea, Eucerin and La Prairie projected growth in excess of the market for 2013.
For fiscal year 2012, Beiersdorf registered a 9.9 percent rise in net profit, excluding special factors, to 477 million euros, or $613.2 million at average exchange for the period.