Rubin Ritter resigns from the Zalando Management Board

The fashion mail order company Zalando is losing one of its three co-CEOs. Rubin Ritter announced on Sunday that he will be leaving the company next year. After eleven years at the helm, Ritter wants more freedom and to devote himself to his family.

Rubin Ritter is leaving Zalando. In a press release on Sunday, the company announced the 38-year-old's departure as Co-CEO after the next Annual General Meeting in 2021. "I would now like to devote more time to my growing family," says Ritter. "My wife and I agree that her career should take priority in the coming years. And for my own future, I would like to have more freedom to pursue new interests beyond Zalando."

Christina Stenbeck, Chairwoman of the Supervisory Board, regretted the announced resignation, but at the same time expressed respect for the personal decision. "We appreciate Rubin's transparency and openness, which will give the Supervisory Board and the company sufficient time for the transition phase," said Stenbeck. She will work with Ritter on the early termination of his contract. His contract actually runs until November 2023. Stenbeck hopes "that Rubin will remain closely associated with Zalando in the long term".

Rubin Ritter, Robert Gentz and David Schneider have led Zalando as co-CEOs with equal rights since 2010. Gentz and Schneider will continue to run the company as a duo from next year, Zalando writes in the press release. Over the past ten years, Zalando has grown to become one of Europe's largest online fashion platforms. According to Zalando, it has more than 35 million active customers in 17 countries. Last year, the Berlin-based company generated sales of just under 6.5 billion euros. This year, sales are expected to grow by 20 to 22 percent.