SE and COO Jürgen Vedie mutually agreed to terminate service contract early

 In 2018e

• Jürgen Vedie leaves Management Board of SE on September 30, 2018
• CEO Peuckert and CFO Weinberger take over responsibilities from October 1, 2018
• Efficiency and profitability increase on-track, break-even expected in early 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 have mutually agreed that they will not renew and to terminate Mr. Vedie´s contract, which runs until June 30, 2019, early. Mr Vedie – who is responsible for Supply Chain Management, Logistics, Operational Purchasing and Customer Service – will leave the company on September 30, 2018. In the last two years, Jürgen Vedie as COO has successfully contributed to significant efficiency increases in Logistics, Operations and Customer Service. Under his leadership, substantial cost optimization measures as well as improvements in net working capital were implemented.
The areas of responsibility of Mr. Vedie will be transferred to the existing members of the Management Board Matthias Peuckert (Chief Executive Officer) and Dr. Nikolaus Weinberger (Chief Financial Officer) as of October 1, 2018.
Willi Schwerdtle, Chairman of the Supervisory Board of "Jürgen Vedie has decided to leave after expiration of his contract. The Supervisory Board accepted this request and terminated the contract early. On behalf of the Management Board and the Supervisory Board, I thank him very much for his dedication and work at and wish him all the best for the future. In addition to his professional competence, Mr. Vedie has greatly enriched the corporate culture at in many aspects. The Supervisory Board and the Management Board have made the joint decision not to fill the third Management Board position going forward and to have the Group run by the two existing members of the Management Board. sees itself as well prepared to further advance the measures to increase efficiency and profitability in order to reach break-even in early 2019.”


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