BERLIN — Douglas Holding AG has named two new supervisory board members.
Effective immediately, Hans-Hermann Lotter and Wilhelm Plumpe will take over duties from August Oetker and Ernst F.Schröder, who have held their positions since 2001. Oetker and Schröder both had key roles at the Oetker Group, which with 25.8 percent owned the largest stake in Douglas Holding before its recent takeover by Advent International.
Douglas Holding is the parent company of the Hagen, Germany-based Douglas Group, which includes perfumery, jewelry, fashion, confectionery and book retail chains.
“We thank Dr. Oetker and Dr. Schröder sincerely for their many years of valuable cooperation, and we are pleased that they will remain on friendly terms with our company. The Oetker Group has been actively involved in the operations of the company for more than 40 years and has played a considerable part in its success,” said Douglas supervisory board chairman Jörn Kreke, in a statement.
First-quarter net profits for the Douglas Group, reported earlier this month, showed a rise of 4.4 percent to 95.7 million euros, or $124.1 million at average exchange, for the three-month period ended Dec. 31, 2012.