SIGNA Prime Selection AG, which is in self-administered insolvency, has sold its shares in the renowned luxury department store KaDeWe to the Thai Central Group as part of a share deal.
The successful conclusion of the transaction marks another milestone in the implementation of the restructuring plan. At the same time, the Central Group appoints Timo Weber as CEO of KaDeWe GmbH and Simone Heift as Chief Buying and Merchandising Officer, both with immediate effect.
“This marks an exciting new chapter for KaDeWe, Alsterhaus and Oberpollinger”, shares André Maeder, CEO of Central Group Europe. “We will work hard to take the company to new heights. The appointment of Timo Weber as CEO significantly strengthens our management team. He brings with him a comprehensive understanding of the operational business and the corporate culture.”
