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The CEO of Europe’s largest fashion site is stepping down so he can prioritise his wife’s career

The co-CEO of German online fashion giant Zalando, which has a $23 billion market value, is stepping down so he can focus on his wife’s career, the company announced Sunday.

“My wife and I have agreed that for the coming years, her professional ambitions should take priority,” Ritter said.


The co-CEO of Europe’s largest fashion site, Zalando, is stepping down to spend more time with his family and focus on his wife’s career, the Berlin-based online fast fashion giant announced in a statementSunday.

Rubin Ritter had shared the top role with two other directors since 2010. They will both stay on. Ritter oversees strategy and communications at the company, which is valued at more than $23 billion.

He will step down at the next annual general meeting in May 2021. His current contract is due to expire on November 2023.

“I want to devote more time to my growing family,” Zalando said in a statement.

“My wife and I have agreed that for the coming years, her professional ambitions should take priority.”

The statement did not give more details about his wife or her career. The company declined to name Ritter’s wife or give her occupation to the BBC. Business Insider has reached out to Zalando for comment.

Ritter added that he wants to explore new interests beyond Zalando, but described his time working there as “a gift and a privilege.”


Read the full article here: Business Insider

Article Source: Business Insider

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