Rubin Ritter, who co-ran German online sales company Zalando, is stepping down to let his partner pursue her career as the couple prepare to have a second child.
One of the co-directors of the Zalando brand will leave the leading European ready-to-wear online group in 2021 to “give a new direction” to his life and leave “priority” to his wife’s career.
Rubin Ritter, under contract with Zalando until November 2023, “intends to step down” at the general meeting next year, according to a statement from the group released Sunday evening.
“I think it’s time to give my life a new direction,” said Rubin Ritter, who has been running the company since 2010 alongside Robert Gentz and David Schneider, quoted in a statement. “My wife and I have agreed that her professional ambitions will be the priority in the coming years.”
Within an all-male board, Rubin Ritter was responsible for strategy and communications. The 38-year-old earned 6.8 million euros in 2019 and more than 20 million euros in 2018, making him one of the highest paid executives in Germany.
Since its founding in 2008, the start-up Zalando has become the leading European group of online clothing sales, with more than 35 million active customers in 17 countries, 14,000 employees and € 1.85 billion in sales. business in the third quarter of 2020, up 22% year-on-year.
Zalando did not wish to give the identity of Robin Ritter’s wife or even her profession. But the company says the couple who have a child are expecting another start in 2021.
More pay disparities in Germany
Germany is still lagging behind in reducing the pay gap between men and women: women earned 20% less than men in 2019, according to the federal statistics agency Destatis, a greater disparity than in Great Britain. Brittany or France.
Zalando, which also sells cosmetics and fashion accessories, has seen its growth accelerate with the restrictions imposed to curb the pandemic.
“We are about to conclude the most extraordinary year in Zalando’s history,” said Cristina Stenbeck, director of the supervisory board. “We are very grateful to Rubin and the entire management team.”
With the sharp rise in the Zalando share price this summer, Rubin Ritter has also collected nearly 39 million euros in profits by reselling some 600,000 shares obtained at the preferential rate of one euro per share due to his functions. , according to the German press.
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