Van de Velde NV

Board/Management Information • Feb 24, 2022

24.02.2022 – 08h15 Regulated information

Marleen Vaesen will be succeeded as CEO of Van de Velde by Peter Corijn as from May 1st 2022

Van de Velde announces that, effective May 1st 2022, Marleen Vaesen will step down as CEO to become a non-executive director on the Board of Directors of Van de Velde. She will be succeeded as CEO by Peter Corijn.

Marleen Vaesen was already a member of the Board of Directors when she was appointed CEO 3 years ago in difficult circumstances. Sales and Ebitda were declining and there was restlessness at the Retail Partners. One year later, the Covid crisis hit hard. Since then, a strong turnaround was achieved. Together with her management team, she managed to set the right strategic priorities. All key indicators i.e. Sales, Ebitda, cash flow, NPS and engagement scores evolved very positively and are at a high level.

Marleen Vaesen: "I am very confident about Van de Velde's future growth path. We have built strong foundations to look positively to the future. I am very pleased to leave behind an organization that is again proud of its results and that looks to the future with confidence and with a clear strategic roadmap for further growth."

Herman Van de Velde: "3 years ago, Marleen was immediately prepared to take over the management of the company. Thanks to her competence and experience, coupled with a no-nonsense style and direct communication, she managed to regain the trust of customers and employees. She will remain a member of our Board of Directors. In this way, we can continue to appeal on her knowledge and experience. We thank Marleen for her commitment and for the great results she has achieved in these 3 years."

Peter is a real brand builder with strong entrepreneurial skills. He proved this in a successful international career. He spent 25 years at Procter & Gamble where he started in the Marketing department and grew to General Management. When Gillette was acquired by P&G, he was strongly involved in the integration. He achieved strong results through strategic innovation. After that, a global assignment as a member of the executive team at Imperial Brands followed. He then became active as consultant. Peter is a lawyer by training and followed executive education in various business schools.

Herman Van de Velde: "We are convinced that Peter, with his long managerial experience, creative personality and as brand builder, will give our company a new impulse. Together with the Board of Directors, we confidently look forward to his arrival and we wish him every success."

Peter Corijn: "Becoming CEO at Van de Velde is my dream job. The company has a great portfolio of brands in a very interesting industry, with more than a century of success. The organization is also brimming with talent. I look forward to co-writing the next chapter."

Herman Van de Velde NV always represented by Herman Van de Velde Chairman of the Board of Directors

Van de Velde creates fashionable lingerie of superior quality with its premium, complementary brands PrimaDonna, Marie Jo and Andres Sarda. We believe in 'Shaping the bodies and minds of women': we want to make a difference in women's lives with our beautiful and perfectly fitted lingerie, by lifting their self-confidence and self-image. For us, an impeccable in-store service is key, an approach which we have consolidated in our Lingerie Styling Concept.

We work in close partnership with 3.600 independent lingerie boutiques worldwide. In addition, we have our own retail network with retail brands Rigby & Peller and Lincherie. Our geographical center of gravity is Europe and North America. Van de Velde employs almost 1,500 employees and is listed on Euronext Brussels.

CONTACTS

For more information contact:

Van de Velde NV - Lageweg 4 - 9260 Schellebelle - +32 (0)9 365 21 00 - www.vandevelde.eu