WESTWING GROUP AG Westwing Group SE: Westwing appoints Andreas Hoerning as new CEO from July 1, 2022 with Founder Stefan Smalla moving to an advisory role

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17/06/2022 08:27

DGAP-News: Westwing Group SE / Key word(s): Personnel
Westwing Group SE: Westwing appoints Andreas Hoerning as new CEO from July 1, 2022 with Founder Stefan Smalla moving to an advisory role (news with additional features)

17.06.2022 / 08:27
The issuer is solely responsible for the content of this announcement.

  • Andreas Hoerning, current Chief Commercial Officer and Founder of the Westwing Collection will become CEO of Westwing Group SE on July 1, 2022.
  • Stefan Smalla, Founder & current CEO, leaves the Management Board by mutual agreement effective June 30, 2022 and will continue to advise the company.
  • The company will embark decisively on the next level of its strategy to bring the Westwing Collection to full potential as the new core of Westwing. The company will provide further details on this next level of its strategy during the half-year results presentation on August 11, 2022.

Munich, June 17, 2022 // Westwing Group SE announces that effective July 1, 2022 current Chief Commercial Officer Andreas Hoerning will become Chief Executive Officer (CEO). Andreas Hoerning has been with Westwing for more than 7 years, founding and building its thriving Westwing Collection business from the ground up to a more than EUR 200 million GMV (Gross Merchandise Volume) business that today accounts for 37% of the Group’s revenue and more than 50% of the Group’s profits. In addition, he is responsible for all Commercial areas of Westwing, i.e., Daily Themes, Permanent Assortment, Marketing, and Customer Services. Prior to joining Westwing, he was a Project Leader at Boston Consulting Group. Andreas Hoerning holds a PhD in commercial law from Berlin’s Humboldt University.

Founder & current CEO Stefan Smalla - after 11 years of leading the company from founding to a publicly listed company with more than EUR 500 million of revenue and more than 2,000 employees - leaves the Management Board by mutual agreement effective June 30, 2022, and will continue to advise the company.

Andreas Hoerning has been well prepared as Stefan Smalla’s internal successor. The time for him to take over is now. Westwing will embark decisively on extending its strategy to bring the Westwing Collection to its full potential and make it the new core of Westwing. As Founder of the Westwing Collection, this next phase will be led by Andreas Hoerning, who will share more details during the half-year results presentation on August 11, 2022.

Andreas Hoerning: “Westwing is one of Europe’s most loved home & living lifestyle brands and has earned incredible customer loyalty. I look forward to working with the whole Westwing team to build upon this great foundation. I’m very excited to lead this company to the next level! We will double down on our efforts to serve customers even better and build an iconic home & living lifestyle brand. We will increase our investments into our amazing, high-margin, sustainable first Westwing Collection further. I am sure we will continue to thrive as we seize this massive opportunity to inspire and make every home a beautiful home.

Stefan Smalla: “After founding Westwing and leading the company as CEO for 11 years, I am extremely proud of what we have achieved and grateful to our team. It’s a core job of the Founder CEO to ensure the company is handed over to a new CEO once the time is right, who will take the company to even higher levels. This new CEO is Andreas, who I have worked with for more than 7 years. He is brilliant as an entrepreneur, retailer, and leader. He has created great results by founding the Westwing Collection from ground zero and leading some of the most important areas of our company as Chief Commercial Officer. I personally am looking forward to supporting Westwing in an advisory role and as a shareholder. I have not yet decided what I will do next professionally.

Christoph Barchewitz, Westwing’s Supervisory Board Chairman: “On behalf of the Company I would like to thank Stefan Smalla for the excellent collaboration and for leading the company very successfully in the last 11 years. He has led Westwing from start-up to a sizable and profitable public company laying the foundation for a bright future for the company. Andreas Hoerning is an exceptionally strong internal successor who will now take Westwing to the next level. The Supervisory Board is looking forward to continuing the successful collaboration with the Management Board.

Westwing Group SE
Press: presse@westwing.de
Investor Relations: ir@westwing.de

About Westwing
Westwing is the leader in inspiration-based Home & Living eCommerce in Europe with EUR 522m of revenue in 2021. Through its 'shoppable magazine', Westwing inspires its loyal home enthusiast customers with a curated product selection and combines that with gorgeous content. With unparalleled loyalty, Westwing is generating more than 80% of sales from repeat customers. Westwing's mission is: “To inspire and make every home a beautiful home”. The company was founded in 2011 and is headquartered in Munich. Westwing went public on the Frankfurt Stock Exchange in October 2018 and is active in eleven European countries.

Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties. You should not rely on these forward-looking statements as predictions of future events and the Company undertakes no obligation to update or revise these statements. The Company's actual results may differ materially and adversely from any forward-looking statements discussed in this press release due to a number of factors, including without limitation, risks from macroeconomic developments, external fraud, inefficient processes at fulfillment centers, inaccurate personnel and capacity forecasts for fulfillment centers, hazardous material / conditions in production with regard to private labels, lack of innovation capabilities, inadequate data security, lack of market knowledge, risk of strike and changes in competition levels.

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File: 2022-06-17 Westwing _Press Release CEO (ENG)

17.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Westwing Group SE
Moosacher Straße 88
80809 Munich
Fax: +49 (89) 550 544 445
E-mail: ir@westwing.de
Internet: www.westwing.com
ISIN: DE000A2N4H07
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1377715

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1377715  17.06.2022