Wolfgang Friedrichs, CEO and shareholder of Replay Germany, has announced to terminate his cooperation with Fashion Box SpA and will leave the group as shareholder at the end of the year.

By request of Replay Italy, he will continue to be CEO of Replay Germany until March 31, 2011, in order to guarantee a smooth transition in the new management’s favor. According to Friedrichs, the reasons for this particular decision were the good partnership with the Replay Group, and all the achievements they have made together in the past.

In the past months, there were some problems and different point of views regarding the mid- and long-term strategy of the company. In April of this year, Friedrichs had decided not to get involved financially in the Fashion Box SpA group which is owned by Matteo and Massimo Sinigaglia, and the Buziol family. Friedrichs: "We have made an objective decision, and do not part being at odds with each other."

At this point, Wofgang Friedrichs has not announced any definite plans for the future.