DGAP-Adhoc

Chief Executive Officer of Media-Saturn-Holding GmbH does not seek prolongation of contract; CECONOMY AG's Management Board and Supervisory Board agree to terminate his contract by mutual consent

DGAP-Ad-hoc: CECONOMY AG / Key word(s): Personnel Chief Executive Officer of Media-Saturn-Holding GmbH does not seek prolongation of contract; CECONOMY AG's Management Board and Supervisory Board agree to terminate his contract by mutual consent 07-March-2021 / 18:13 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The Management Board and Supervisory Board of CECONOMY AG (CECONOMY) held an extraordinary meeting today to discuss the decision of Ferran Reverter Planet, Chief Executive Officer (CEO) of Media-Saturn-Holding GmbH (MSH), not to seek an extension of his contract (which runs until 12 October 2021). The Management Board and the Supervisory Board have agreed to the termination of Ferran Reverter Planet's contract by mutual consent as of 30 June 2021. The Presidential Committee of the Supervisory Board, under the leadership of the Chairman of the Supervisory Board, Thomas Dannenfeldt, has already started a procedure for the formation and staffing of a uniform management structure of the CECONOMY Group to be established after the completion of the Convergenta transaction. With the introduction of the new Operating Model in August 2020, CECONOMY's Management Board and MediaMarktSaturn's management have ensured that day-to-day operations are handled by the Chief Operating Officers (COOs) and the Chief Commercial Officer (CCO) of MediaMarktSaturn. Person making the notification: Stephanie Ritschel, Vice President Investor Relations, CECONOMY AG

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07-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	CECONOMY AG
	Kaistr. 3
	40221 Düsseldorf
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.ceconomy.de
ISIN:	DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/
WKN:	725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/
Indices:	SDAX
Listed:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1173706

End of Announcement	DGAP News Service

1173706  07-March-2021 CET/CEST