EANS-News

Wolford AG: Change in the Wolford Management Board / Global Sales & Merchandising Director Silvia Azzali appointed as the New Chief Commercial Officer (CCO)

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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Personnel

Bregenz - Wolford AG announced today that the Supervisory Board appointed Silvia
Azzali (48), the present Global Sales & Merchandising Director of Wolford AG, to
serve on the Management Board as the company's Chief Commercial Officer (CCO).
Starting on November 1, 2019, the Wolford manager will be responsible for the
areas of Sales & Merchandising, Marketing and Design.

Silvia Azzali has gained more than 20 years of professional retail experience in
the fashion industry and worked for premium brands such as Moschino, Ermano
Scervino and La Perla, amongst other activities. She was already employed by
Wolford in the years 2011 to 2016, for example as Head of International
Wholesale. She most recently served as Head of Global Retail & Franchising at
Moschino before returning to Wolford in January 2019. In her role as Global
Sales & Merchandising Director, she has centralised Wolford's sales activities
in cooperation with Axel Dreher and built up a new international sales and
merchandising organisation.

"Silvia Azzali has longstanding global experience in the luxury segment and is a
proven expert for the sales and marketing of premium brands. She has had an in-
depth knowledge of Wolford for many years, understands the brand and made a
significant contribution towards developing the new sales organisation", states
Jenny Shao, Chairwoman of the Supervisory Board of Wolford AG. "With Silvia
Azzali and Andrew Thorndike, we are ensuring continuity in the management while
giving fresh impetus to the company."

The Management Board will consist of two members until the vacant position of
CEO is successfully filled.

Andrew Thorndike, who was appointed to be a new member of the Management Board
and Chief Operations Officer (COO) in September 2019, will continue to be
responsible for Product Development, Supply Chain Management, Finance,
Controlling, Legal, Investor Relations, IT and Human Resources.

Wolford's Chief Executive Officer (CEO) Axel Dreher resigned from his Management
Board position today on the most amicable terms with the Supervisory Board and
will leave the company effective October 31, 2019. Axel Dreher has been a Member
of the Management Board since 2013, first working as COO/CFO before being named
CEO in 2017. The Supervisory Board expressed its thanks to Axel Dreher for his
longstanding commitments on behalf of the company.



Further inquiry note:
Wolford AG
Maresa Hoffmann
Investor Relations & Corporate Communications
Tel.: [phone]
[e-mail] | company.wolford.com

end of announcement euro adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: [phone]
FAX: [phone]
mail: [e-mail]
WWW: http://company.wolford.com
ISIN: AT0000834007
indexes: ATX GP
stockmarkets: New York, Wien, Frankfurt
language: English