Jena, October 8, 2007 – Intershop Communications AG (Prime Standard: ISH2) announced today that, following the expiration of the contract with CEO Friedhelm Bischofs (62), Andreas Riedel (48) has been appointed to succeed him as CEO effective October 10, 2007.
On the termination of his appointment on October 10, 2007, Friedhelm Bischofs will leave the Company by mutual agreement with the Supervisory Board. The Supervisory Board wishes to expressly thank Mr. Bischofs for his hard work, which led to Intershop recording an operating profit within a very short period and thus significantly improved the Company’s overall situation. He was responsible for implementing far-reaching restructuring programs and successfully initiated measures to secure the Company’s financial position. In addition, sales efficiency has improved significantly in the past two quarters, as reflected in the very good order situation today, among other things.
As CEO, Andreas Riedel will be responsible for leading e-commerce company Intershop, based in Jena. He has more than 25 years’ experience in customer-facing industries. In the recent past, he worked in senior management positions at Schott Zwiesel AG, Möbel Höffner GmbH, Deutsche Telekom AG – as Managing Director of the T-Punkt sales organization – and most recently as Chairman of the management of the Real business line at Metro AG. Riedel will contribute his wide-ranging management experience in customer-facing industries to rapidly drive forward the Company’s reorientation.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.