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CEO Olivier van den Bossche, who steered German department store chain Galeria through the turbulent bankruptcy of its former owner Signa, is leaving the company with immediate effect. His responsibilities will be jointly assumed by Chief Sales Officer Tilo Hellenbock and Chief Financial Officer Christian Sailer.
Involuntary?
The exact reasons behind Van den Bossche’s abrupt departure remain unclear, but German business magazine WirtschaftsWoche suggests that the Belgian CEO did not leave of his own accord.
Galeria faced serious challenges last year, following the dramatic collapse of the Signa Group and the downfall of its once high-profile businessman René Benko. In a brief statement, the retailer acknowledged Van den Bossche’s contribution, describing him as “crucial to the positive development of the company.”
Despite the praise, Galeria has announced that Van den Bossche has stepped down immediately, citing a desire to streamline the management structure. According to WirtschaftsWoche, this decision may be rooted in strategic disagreements between Van den Bossche and the company’s new owners. In particular, his proposal to increase collaboration with external partners may not have sat well with the current leadership.
