Douglas GmbH is getting a new chief financial officer. Effective Jan. 1, 2017, Michael Rauch will take over the reins from Erika Tertilt, who has held the position for the past four years.
Rauch will join the German cosmetics and perfumes retailer from Henkel, where he has served as corporate senior vice president and financial director of its adhesive technologies division. Prior to that, Rauch ran Henkel’s beauty-care division.
Presently based in Hagen, Douglas will move its international headquarters to Düsseldorf next month. The company said Erika Tertilt did not wish to relocate, and instead chose to depart Douglas. She will stay on through Rauch’s transition to cfo to ensure a smooth hand-off.
“Erika’s commitment to Douglas has been vital for the success of our company,” Douglas chief executive officer Isabelle Parize commented in a statement. “We look forward to having Michael Rauch on board as an excellent addition to the executive team in order to help us reinforce our omnichannel leadership in Europe.”
Douglas owns around 1,700 perfumeries in 19 European countries, as well as more than 600 Nocibé stores in France. The company reported annual sales of about 2.6 billion euros, or $2.9 billion at current exchange, for its financial year 2014-15.