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Jena, March 25, 2011 – The Supervisory Board of Intershop Communications AG, provider of integrated e-commerce solutions, has appointed Ludwig Lutter (44) as a member of the Executive Board with effect from April 1, 2011.
In his role as CFO, he will be responsible for the functions Finance, Mergers and Acquisitions, IR and PR as well as the departments Operations, Legal and Human Resources. He succeeds Peter Mark Droste whose contract expires on March 31, 2011.
Peter Mark Droste was appointed as a member of the Executive Board in April 2009 with the primary goal of searching for a strategic partner with whom Intershop could drive the internationalization of its e-commerce business and the growth of the company. The company found this partner in the US firm GSI Commerce Solutions, Inc. Both companies complement each other perfectly and their cooperation has considerably increased the growth rate of Intershop in the past months.
“Peter Mark Droste helped Intershop take the next step towards growth by implementing important changes. The Supervisory Board would like to thank him for his great committment to the company,” commented Dr. Herbert May, Chairman of the Supervisory Board of Intershop Communications AG. “Ludwig Lutter is a financial expert with extensive knowledge of the sector – a perfect successor ” continued Dr. May.
Ludwig Lutter has 19 years experience in financial management and investor relations. His last position was as CFO at eleven GmbH, the leading e-mail security provider in Germany. He previously was the CFO of Astaro AG, Europe’s No.1 in the field of unified thread management (UTM) as well as of the listed company Poet Holdings, Inc., a globally active provider of e-commerce catalogue platforms and supplier management solutions. Ludwig Lutter started his career in the fields of financial audits and tax advisory at KPMG and other consultancy firms. He is a tax advisor and graduated in business administration at the University of Texas.
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.