Tobias Nieber appointed to Witt-Gruppe Management Board

Hamburg, 29 January 2024 - Tobias Nieber, currently CFO Mytoys Group, is to join the Witt-Gruppe Management Board as of 01 February 2024. His appointment anticipates the departure of Jürgen Angstmann, long-standing CFO/COO Witt-Gruppe, set to retire on 30 June 2024. The future Management Board of this Otto Group focus company will therefore comprise CEO Patrick Boos (Sales & Human Resources), Stefanie Zühlke-Schmidt (Purchasing), Johann Kiener (Brand & Digital Commerce) and Tobias Nieber.

Tobias Nieber, a long-standing and highly experienced manager from the Otto Group's own ranks, is to join the Witt-Gruppe Management Board. 51-year-old Nieber has held various management positions since 1998 at Otto Group Holding and various Otto Group companies. From 2011 to mid-2013 he was CFO/COO at Mirapodo in Berlin, with Board responsibility for IT, Fulfillment, and Finance. As CFO Otto Group Russia from 2013 to 2020 he played a key role in the company's successful transformation and restructuring, as well as from 2019 onwards in its integration in the Bonprix Group. Since mid-2020, as CFO Mytoys Group in Berlin Tobias Nieber has held responsibility for Finance, Logistics, and Human Resources.

"I am delighted that in Tobias Nieber we have found the ideal successor to Jürgen Angstmann within the Otto Group. Tobias has already gathered many years of experience within our Group and has very wide-ranging expertise. He will leverage his deep know-how to drive the transformation of the Witt-Gruppe actively forward," emphasises Dr. Marcus Ackermann, Member of the Otto Group Executive Board, Multichannel Distance Selling, and Chairman of the Witt-Gruppe Advisory Board.

After an overlapping transitional period, Jürgen Angstmann is to leave the Witt-Gruppe on 30 June 2024 after over thirty years' service. He began his career as Head of Human Resources Development, then made a lateral move in January 1997 to Sales as Project Manager of the 'Sieh an!' brand relaunch. In an impressively brief period he successfully positioned and established this Womenswear mail-order business in Germany and abroad as a standalone concept within a fiercely price-competitive market segment. Following his appointment as Head of Sales in October 1998, he became Managing Director Sales at Sieh an! Handelsgesellschaft mbh. Since January 2009 Angstmann has been a Member of the Josef Witt GmbH (Witt-Gruppe) Management Board. He was initially responsible for the Advertising, Production, and Sales Management Areas as well as for 'Sieh an!' Marketing, Sales, and Purchasing. He has been CFO/COO Witt-Gruppe since March 2017, with Board responsibility for the Controlling & Finance, IT, Business Intelligence, Organization & Business Management, Customer Service, Facility Management, and Logistics Areas.

"For 14 years, Jürgen Angstmann has played a key role as Managing Director particularly in shaping the transformation of the Witt-Gruppe. We are preparing to bid a heartfelt farewell to a highly esteemed management colleague when he retires," says CEO Patrick Boos on behalf of the entire Management team. Dr. Marcus Ackermann adds: "I am deeply grateful to Jürgen Angstmann, whose tremendous commitment over this period has made a major contribution to the Witt-Gruppe's successful transformation. As a result, this Otto Group company is now outstandingly positioned to meet current and future market challenges – and is currently outperforming the overall sector trend as well as its own business plan."

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About Otto Group

Founded in Germany in 1949, today the Otto Group is a globally active retail and services group with around 41,000 employees in 30 major company groups primarily active in the economic regions of Germany, the rest of Europe, and the USA. Its business activities span the Platforms, Brand Concepts, Retailers, Services and Financial Services segments. In the 2022/23 financial year (to 28 February) the Otto Group generated revenues of 16.2 billion euros. With online revenues of approximately 12 billion euros, the Otto Group is one of the world’s largest online retailers. The Group’s particular strength is the broad market presence of its differentiated product assortments and service offers to diverse customer target groups in the world’s relevant economic regions. Numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies demonstrate a high degree of corporate responsibility and willingness to collaborate with one another; at the same time this guarantees flexibility, customer proximity and optimal target-group appeal in their respective national markets.

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