The Board of Directors of the Samsonite International S.A. announced that Mr. Ramesh Dungarmal Tainwala, citing personal reasons, has submitted his resignation from his employment with the company and from his directorships within the Group. Mr. Tainwala will cease to be the Chief Executive Officer and Executive Director of the Company effective on May 31, 2018. The Company and Mr. Tainwala are in discussions regarding arrangements in relation to his separation from the Company.

As a procedural matter required under Luxembourg law and consistent with past practice, Mr. Tainwala's resignation as a director of the Company is required to be acknowledged by the shareholders at a general shareholders' meeting of the Company to be convened as soon as practicable. The Board further announced that Mr. Kyle Francis Gendreau, 49, has been appointed as the new Chief Executive of the Company with immediate effect. Mr. Gendreau has been a member of the Group's senior executive team since June 2007 and has served as an Executive Director of the Company since its incorporation in March 2011 and as an executive director of the consolidated group since January 2009.

He served as the Chief Financial Officer of the Group from January 2009 until his appointment as the Chief Executive Officer of the Company. As a senior executive of the Group, Mr. Gendreau has been actively involved in the development of the Group's business and in implementing the Company's strategic plan, in addition to managing all aspects of the Group's finance and treasury matters. In his role as Chief Executive Officer, Mr. Gendreau will be responsible for the Company's overall strategic planning and for managing the Group's operations.

Mr. Gendreau joined the Group in June 2007 as Vice President of Corporate Finance and as Assistant Treasurer. Prior to joining the Group, he held various positions including vice president of finance and chief financial officer at Zoots Corporation, a venture capital-backed start-up company (2000 to 2007), assistant vice president of finance and director of SEC reporting at Specialty Catalog Corporation, a listed catalog retailer (1997 to 2000) and a manager at Coopers & Lybrand in Boston (1991 to 1996).