Sven Seidel to leave Otto Group for family reasons

(PresseBox) ( Hamburg, )
Sven Seidel, Member of the Otto Group Executive Board, Multichannel Retail, has requested the early termination of his contract for family reasons. From 01 November 2019 he will take up fresh challenges as CEO of a group of companies headquartered in southern Germany.

Both parties deeply regret the situation. Sven Seidel, one of Europe’s most renowned retail executives, is to leave the Otto Group early for private reasons, and will assume new professional responsibilities in southern Germany.

“Taking this decision is very tough for me”, says the 45 year-old, “as I am working for a tremendously exciting company, have a great set of working responsibilities, and will be leaving colleagues behind whom I have grown very fond of.” The decisive factor in his decision to move was his family, which has roots in southern Germany, and at the same time a “challenging professional prospect.”

Sven Seidel was appointed Executive Board Member, Multichannel Retail, of the retail and services company Otto Group effective 01 April 2018. From this position he has lead the Group’s Multichannel Retail business, which not only includes company groups such as Crate and Barrel, SportScheck, Manufactum and Frankonia but also the strategic consultancy of the various OTC (Over-The-Counter) activities of the Otto Group’s major omnichannel providers which range from Bonprix to the Witt Group. Furthermore, Sven Seidel also holds responsibility for the Otto Group’s entire import activities, bundled within the Group company Otto International (OI).

“Over these 18 months Mr Seidel has been able to give our retail and import businesses clear orientation and stimuli”, emphasises Prof. Dr Michael Otto, Chairman of the Otto Group Advisory Board. “From a professional as well as a personal perspective I therefore deeply regret that Mr Seidel has accepted a new career challenge outside the Otto Group. I do understand the family motives behind his decision, however.”
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