Otto Group: Neela Montgomery, formerly at Tesco, joins executive board
Otto Group announced that Neela Montgomery will join its executive board on November 1 as an executive member in charge of multichannel retail. The executive board must still approve the appointment.
Montgomery will succeed Timm Homann, who is leaving the Hamburg-based company at the end of the month.
She will supervise companies operating e-commerce and over-the-counter retail strategies, primarily Crate and Barrel in North America and Sportscheck in Central Europe.
The German press has not always been very kind with Montgomery. In Manager Magazin, for example, the focus has been on her lack of retail experience, the fact that she does not speak German and that the choice will irritate certain executives.
Montgomery spent twelve years at the British company Tesco, where she was tasked with various responsibilities including international development, product assortment for Malaysia and the online non-food business in Britain. She served most recently as merchandising director and a member of Tesco UK’s board of directors.
During its last fiscal year ending on February 28, the retail giant posted revenues of 12 billion euros for earnings before interest and tax of 392 million.
In North and South America, Otto is struggling and has not been helped by exchange rates.
Its business, primarily Crate and Barrel, fell by 4.1% to 1.26 billion euros. The decline, at constant exchange rates, was limited to 0.3%.
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