Only a couple of months after she had started to work for German department store chain Karstadt, Eva-Lotta Sjøstedt quits her job as the company announced together with Sjøstedt this morning.

In the announcement Sjøstedt states: "When I decided to take over at Karstadt I did this assuming to take action in and develop a company in a very difficult economic situation. I took this step also because the owner of the Karstadt Warenhaus GmbH, Berggruen Holdings, promised its full support for my strategy and investment plans for the 83 department stores. After checking, the experience of the last months and knowledge of the economic situation I have to realize that the premises for my plans are not given any more".

Stephan Fanderl, Karstadt supervisory board: "This comes as a surprise for us and in economically difficult times for  the Karstadt Warenhaus GmbH". Nevertheless, Fanderl says, in the current situation Karstadt should not slow down its reorganization process due to changes in the management team.

For now management board members Miguel Müllenbach and Kai-Uwe Weitz will take over Sjøstedt's position, a replacement and reorganization of the board due to Sjøstedt leave shall be announced "soon".

Read the full statement of the Karstadt Warenhaus GmbH and CEO Eva-Lotta Sjøstedt here.