Bastei Lübbe AG: Chief Executive Officer Carel Halff will not renew his contract at the end of 2020

DGAP-News: Bastei Lübbe AG / Key word(s): Personnel

01.10.2019 / 16:16
The issuer is solely responsible for the content of this announcement.

Chief Executive Officer Carel Halff will not renew his contract at the end of 2020

Cologne, 1 October 2019 - The CEO of Lübbe AG, Carel Halff (68), will resign from office at his own request upon expiry of his contract on 31 December 2020. The Supervisory Board would like to thank Mr Halff for his very successful commitment to the restructuring of Bastei Lübbe AG, including extensive streamlining of the portfolio and completion of an efficiency enhancement program. In the past financial year, the company successfully returned to profitability. The successful reorganisation encourages the management to press ahead with the strategic change initiated by Mr. Halff.

"With Carel Halff as CEO, we have succeeded in implementing the turnaround of Bastei Lübbe AG quickly, consistently and successfully. I am confident that we will remain closely connected even after the end of his role as CEO," Robert Stein, Chairman of the Supervisory Board of Bastei Lübbe AG, appreciates the successful collaboration so far.

Mr. Halff will remain fully available to the company as CEO until his time of resignation. The Supervisory Board will immediately plan the succession of Mr. Halff and the future composition of the Executive Board.

About Bastei Lübbe AG:

Bastei Lübbe AG is a German publishing house with headquarters in Cologne specialised in the publication of books, audio books and e-books with fiction and popular science content. The company's core business also includes the periodically published puzzle magazines and novel magazines. With its total of twelve publishing houses and imprints, the Bastei Lübbe group of companies currently offers around 3,600 titles in the areas of fiction, non-fiction as well as books for children and young adults. In the growing segment of hardcover fiction books, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is an engine for innovation in the area of digital media and distribution channels, among other things by the production of thousands of audio and eBooks. This includes the stake in the renowned game publisher "Daedalic Entertainment".
With annual sales of approx. EUR 95 million (financial year 2018/2019), Bastei Lübbe AG is one of the largest medium-sized publishing companies in Germany. The shares of the company have been listed in the Prime Standard segment on the Frankfurt stock exchange (GSIN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information is available at www.luebbe.com.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Tel.: +49 221 / 82 00 28 50
E-Mail: barbara.fischer@luebbe.de

01.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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