Wolford chairwoman steps down amid financial troubles

Austrian legwear and lingerie company Wolford has seen its chairwoman resign amid falling revenues.

Dr Antonella Mei-Pochtler, who joined the company in September 2014, has resigned as chairwoman with immediate effect and will leave the supervisory board on September 8.

Deputy chairwoman Claudia Beermann will succeed her in the interim before a new chair is appointed following the brand’s next annual general meeting on September 14.

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The news comes after Wolford recorded a 5% fall in revenue to €154.28m (£142.4m) for the 12 months to April 2017.

Meanwhile, earnings before interest, taxes, depreciation and amortization (EBITDA) plummeted from €8.38m (£7.7m) in 2016 to a loss of €3.39m (£3.1m).

Asish Sensarma stepped down from his role of CEO at Wolford last month and was replaced by Axel Dreher, the former COO and CFO at the company, on August 1.

 

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