SE and COO Jürgen Vedie cancel Management Board contract prematurely by mutual agreement

• Jürgen Vedie to step down as a member of the Management Board of SE on 30.09.2018
• CEO Peuckert and CFO Weinberger to take over responsibilities from 01.10.2018
• Efficiency and profitability increase on-track, break-even still expected at the beginning of 2019

Munich, September 10, 2018: SE ("" or "Group"), one of the leading online retailers for baby and toddler products in Europe and for customers in China, announces that Jürgen Vedie, Member of the Management Board and Chief Operating Officer (COO) of and the Supervisory Board of the Company have agreed by mutual agreement not to renew mr. Vedie's contract, which will run until 30.06.2019, and to terminate it prematurely. Mr. Vedie – responsible for Supply Chain Management, Logistics, Operational Purchasing and Customer Service – will leave the company on 30.09.2018. Over the past two years, Jürgen Vedie's role as COO has successfully contributed to significant efficiency gains in logistics, operations and customer service. Under his leadership, significant cost optimization measures were implemented as well as significant improvements in net working capital were achieved.
As of 01.10.2018, Mr. Vedie's areas of responsibility will be divided among the existing Executive Board members Matthias Peuckert (CEO) and Dr. Nikolaus Weinberger (Chief Financial Officer).
Willi Schwerdtle, Chairman of the Supervisory Board of "Jürgen Vedie has decided to leave after his contract expires. The Supervisory Board has complied with this request and has already terminated the contract prematurely. On behalf of the Executive Board and the Supervisory Board, I would like to thank him very much for his commitment and the work he has done at and wish him all the best for the future. In addition to his professional competence, Mr. Vedie has also greatly enriched the company in many aspects. The Supervisory Board and the two remaining members of the Board of Management have jointly decided to dispense with a third Executive Board position in the future and to have the Group managed in its current structure by the two existing Executive Board members. sees itself in an excellent position to further advance the measures to increase efficiency and profitability in order to reach break-even at the beginning of 2019."