Company press releases
29 Jan 2010
Changes on the Management Board of Zapf Creation AG
- Move to enhance industry expertise aims at accelerating the implementation of the Company's new corporate strategy
Roedental, January 29, 2010 - Zapf Creation AG, Europe's leading manufacturer of play and functional dolls, today announced that its Supervisory Board has appointed Mr. Ron Oboler Chairman of the Management Board effective February 1, 2010. Mr. Oboler, Director of International Sales with MGA Entertainment, Inc., possesses broad toy industry experience and will lead the Company on an interim basis until the second half of 2010. The Supervisory Board plans to fill the position of Management Board chairman on a permanent basis in the course of the year.
Mr. Stephan F. Brune, who has served as Chairman of the Management Board of Zapf Creation AG since October 1, 2008, will resign from the Company effective January 31, 2010.
In addition, Mr. Ron Brawer, member of the Company's Supervisory Board, will be temporarily delegated to its Management Board. Effective immediately, Mr. Brawer will be responsible for the continued streamlining of the Company's corporate structures and the realization of potential savings associated with this.
Mr. Jaime Ferri Llorens, member of the Supervisory Board, will use his many years of experience in the toy industry to further enhance the Management Board's work in the future.
These personnel decisions are designed to accelerate the implementation of the Zapf Creation Group's new strategy. The Company continues to push the development of its product portfolio and its geographic expansion.
Dr. Harald Rieger, Chairman of the Supervisory Board: "Zapf Creation now has a leadership team that possesses broad knowledge of and experience in the toy industry. This management team will allow us to execute the ongoing strategic development of Zapf Creation into an international provider of toys at an accelerated pace. We thank Stephan Brune for the contributions he made to the Company's realignment."
Further information:
Frank Elsner/Jens Heinen
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 (0) 54 04 - 91 92 0
Fax: +49 (0) 54 04 - 91 92 29
Zapf Creation AG is Europe's leading manufacturer of play and functional dolls with accessories. Among Zapf Creation's best known brands are Germany's best-selling functional doll BABY born®, 15 million of which have been sold worldwide since 1991, plus Baby Annabell® and CHOU CHOU. All branded play concepts share a high standard of design, quality, safety and play value. Headquartered in Roedental, Germany, Zapf Creation was founded by Max Zapf in 1932 and went public in April 1999 (ISIN 0007806002). For further information, please visit: www.zapf-creation.com.
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