The Supervisory Board of Adler Modemärkte AG appointed Mr. Thomas Freude to serve as a new member and Chairman of the company's Executive Board with effect from September 11, 2017. Mr. Freude was appointed for a five-year term and will be responsible in particular for strategy, sales and distribution, e-commerce, marketing, M&A, expansion and public relations. Until Mr. Freude takes office, the existing members of the Executive Board, Karsten Odemann (CFO) and Andrew Thorndike (COO), will continue to manage the company jointly.

Before coming to ADLER, Thomas Freude served in various leadership positions at Deutsche Telekom for roughly ten years. Most recently, until the end of March 2017 he served as CEO and managing director of the Technical Service section. In this position, he was responsible for a comprehensive transformation and growth programme.

Prior to that, Thomas Freude served for more than 25 years in various management positions in the retail sector. For instance, from 2005 to 2007 he was in charge of the OTTO Group's global bricks-and-mortar retail business as a retail expert.