Kinnevik AB (publ) ("Kinnevik") today announced that Global Fashion Group ("GFG"), the leading online fashion destination for growth markets, has appointed Christoph Barchewitz and Patrick Schmidt as Co-Chief Executive Officers effective 1 February 2018. In addition, Kinnevik's CEO Georgi Ganev will join GFG's Board of Directors.
Under the new leadership, GFG will continue to expand its position as the leading online fashion and sports destination in its markets, strengthen partnerships with international and local brands, and further improve the customer experience.
Christoph Barchewitz, Co-CEO-elect of GFG, commented:
"I am very excited to take on this new role and look forward to continue developing GFG, Kinnevik's largest private asset, in this new capacity. With Patrick's operational knowledge, and my experience from the Board of GFG and in e-commerce investing, I believe we have highly complementary skill sets to pursue the significant fashion e-commerce opportunity in GFG's markets."
Georgi Ganev, CEO of Kinnevik, commented:
"I am delighted to join the Board of GFG in this next chapter for the company, and would like to congratulate both Christoph and Patrick on their new roles. Christoph's appointment is a testament to Kinnevik's commitment to active ownership, as well as our aim to offer our employees continuous career development opportunities."
Christoph Barchewitz joins GFG from Kinnevik where he has been an Investment Director since 2014, focusing on the development of the e-commerce investments, including Zalando, GFG, and several other companies. Christoph has served as a Board Director of GFG since 2015. Prior to joining Kinnevik, he spent seven years at Goldman Sachs.
Patrick Schmidt joins from The Iconic, GFG's Australian business, where he has served as CEO since 2013. Prior to joining The Iconic, Patrick founded Groupon Australia and later oversaw Groupon's Latin American business. He started his career as a strategy consultant at Boston Consulting Group.
Georgi Ganev, Kinnevik's CEO since 1 January 2018, will join GFG's Board of Directors in February.
GFG's press release published today can be found on their website:
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.