Andreas Baumgärtner, who has been the chief executive of Bogner since November 2017, will be leaving the company at the end of March. According to the company, Baumgärtner is leaving at his own request and for personal reasons. He will resign on March 31 but continue to serve in an advisory capacity and support the company’s ongoing realignment, particularly in the area of product development.
Two members of the executive board, Gerrit Schneider and Hein Hackl, will replace Baumgärtner as joint managing directors on April 1. Schneider has been in charge of finance, IT and human resources since March 2019, while Hackl has been running the sales division since March 2018.
The change of management comes after Willy Bogner, owner of the company, placed his shares in the hands of a lawyer, Arndt Geiwitz, and retired from the supervisory board. Geiwitz took over his role on the board, joining Willy Bogner’s daughter, Florinda Bogner.
Bogner appointed Ernst & Young at the end of February to review structures and processes for potential improvements. The company has been operating with low earnings for several years, but in the last two its management board has made efforts to get the company back on track with better collections.
In the 2017/18 financial year, Bogner’s revenues rose to €158.6 million from €150.6 million. A report in Textilwirtschaft indicates that the company is no longer for sale and that its revenues increased again in 2018/19.