TOM TAILOR Holding SE
TOM TAILOR Group successfully closes EUR375 million loan agreement – Christian Werner takes over from CFO Thomas Dressendörfer

TOM TAILOR Group successfully closes EUR375 million loan agreement – Christian Werner takes over from CFO Thomas Dressendörfer

Hamburg, 30 October 2019. The TOM TAILOR Group today signed a new consortium loan agreement, effective until 30 September 2022. Above and beyond the originally planned volume, a further credit line of EUR10 million has been included in the agreement, bringing the total volume of the consortium agreement to EUR375 million. The consortium loan agreement was restructured based on the results of an Independent Business Review. It now comprises a revolving credit facility of EUR145 million and guarantee facility of EUR160 million as well as a term loan of EUR70 million. In addition, the majority shareholder of TOM TAILOR Holding SE, Fosun International Limited, is providing a fixed loan of EUR28.5 million, which is limited until 31 December 2022. As part of the agreement, CFO Thomas Dressendörfer will resign from the Management Board with effect from 31 October 2019. His successor will be Christian Werner (43), who has been appointed CFO by the Supervisory Board of TOM TAILOR Holding SE with effect from 1 November 2019.

“Thomas Dressendörfer has laid the financial foundations for the long-term financing of the TOM TAILOR Group. He succeeded in placing the company on a solid footing in spite of increasingly challenging conditions. At the same time, under his leadership the foundation was established on which the company can become more competitive and flexible in terms of future growth”, says Jenny Shao, Chair of the Supervisory Board of TOM TAILOR Holding SE.

Supervisory Board appoints Christian Werner as new CFO – Thomas Dressendörfer resigns from Management Board as planned

Christian Werner has been with the TOM TAILOR Group since February 2014, most recently as Vice President Finance. In the past five years he led the implementation of a number of financing and optimisation projects within the TOM TAILOR Group. The transition will thus be seamless as Werner is very familiar with the company, its structures and processes. Werner began his career as a graduate trainee with the Landesbank Baden-Württemberg in Mannheim and held executive positions in the Corporate Advisory unit of Deutsche Bank as well as at NIBC Bank N.V.. Prior to that, he worked for several years as a management consultant with Arthur Andersen and Ernst & Young. Werner studied business administration at the University of Mannheim.

“With Christian Werner, a proven financial expert takes over the CFO position on the Management Board of the TOM TAILOR Group. He has profound experience and knowledge of publicly listed companies and he is very familiar with the structures and the business model of the TOM TAILOR Group, so he is the ideal candidate to fill this position”, says Jenny Shao, Supervisory Board Chair of TOM TAILOR Holding SE.

Dressendörfer has been a Board member since June 2016. At the request of the Supervisory Board and majority shareholder Fosun, he extended his mandate in June 2019 for a further nine months in order to negotiate and successfully close the new financing structure for the Group. His resignation was thus a planned step in the process and the handover to his successor Christian Werner has been well prepared. “With the successful closing of the new loan agreement, the TOM TAILOR Group is well set for the next few years and can therefore react to market opportunities in a flexible and growth-focussed manner. Both the bank consortium and our majority shareholder Fosun believe in the potential of the TOM TAILOR brand and will continue to support the strategic and operational development of the company”, says Thomas Dressendörfer, CFO of the TOM TAILOR Group. Dressendörfer’s successes include the cost reduction and efficiency programme RESET initiated by him in 2016 as well as the three capital increases implemented in 2016, 2017 and 2019.

The company will publish its annual financial statement and the consolidated financial statement for 2018 on 6 November 2019.

You will find a high-resolution personal photo of the new CFO Christian Werner under this link: http://bit.ly/ChristianWerner

About TOM TAILOR Group
TOM TAILOR Group is an international, vertically integrated fashion company focused on casual wear in the medium price segment. The product portfolio is complemented by an extensive range of fashionable accessories. With its brands, the company covers the various core segments of the fashion market. The TOM TAILOR brand is marketed through the retail and wholesale segments, and thus through single-label stores as well as wholesale partners. These include 454 TOM TAILOR stores and 185 franchise stores, 2,541 shop-in-shops and 7,393 multi-label points of sale. The brand is present in more than 32 countries. The BONITA brand has 727 retail stores and 80 shop-in-shop spaces. The collections of both brands are also available through their respective online shops.

Information is also available at www.tom-tailor-group.com

Investor contact
Viona Brandt
Head of Investor Relations
TOM TAILOR Group
Telephone: +49 (0) 40 58956-449
E-mail:viona.brandt@tom-tailor.com

Media contact
Harriet Weiler
Head of Corporate Communications
TOM TAILOR Group
Telephone: +49 (0) 40 58956-168
E-mail: harriet.weiler@tom-tailor.com