PARIS — Hans Woitschatzke will step down from the board of Escada AG and resign his post as deputy executive chairman at the end of the fashion company’s fiscal year on Oct. 31.
He will act as a consultant to the company for “select international projects of strategic importance,” Escada said.
Woitschatzke, 53, joined Escada in October 1992, after the company ran into serious operating difficulties. He had previously been chief executive officer of Adidas.
Escada said it would not fill the post of deputy executive chairman after Woitschatzke leaves.
In a statement, Woitschatzke said the restructuring program that he and Escada chairman Wolfgang Ley introduced two years ago “has met with success much earlier than expected.”
“Today the company can concentrate fully on its fashion business,” Woitschatzke said. He could not be reached for further comment.
In the announcement, Ley praised Woitschatzke for contributing “significantly to Escada’s turnaround through his analytical expertise and strategic decision-making.”