BERLIN — Douglas Perfumeries is losing its chief.
Manfred Kroneder will leave the German-owned perfumery chain on Sept. 30, when his current contract ends. Henning Kreke, president and chief executive officer of Douglas Group AG, will take over, in addition to his other duties, the position as director of the group’s perfumeries division until a successor is named, the company said.
The move ends Kroneder’s 15-year-plus tenure at Douglas Group, working throughout its retail divisions, which also include books, fashion and jewelry, and serving as a member of the firm’s advisory board. Douglas has been owned by Advent International and the founding Kreke family since May 2013.
This June, Douglas Group implemented its planned purchase of France’s Nocibé perfumery chain after agreeing to sell 38 doors at the request of the French competition authority. Together, Douglas and Nocibé will have close to 500 perfumeries in France. Globally, Douglas Perfumeries locations add up to more than 1,150.
More change is anticipated for the Hagen, Germany-based Douglas Group. In March of this year, the company sold off its Hussel confectionary business. German financial newspapers have been speculating that the group’s book retailer Thalia or its jewelry chain Christ may be up for sale next. Earlier this month, Jörn Kreke, chair of the supervisory board, said he would retire from the firm, also effective Sept. 30.
In its most recently released financial reports, Douglas Holding, the parent company of Douglas Group, registered net sales of 3.5 billion euros, or $4.59 billion at average exchange, for its fiscal year ended Sept. 30, 2013.