Karstadt Warenhaus GmbH has announced a new Chief Executive Officer. Eva-Lotta Sjøstedt will replace Andrew Jennings as CEO, effective 24 February 2014.

Previously Eva-Lotta Sjøstedt was responsible for the worldwide multichannel strategy working for IKEA Gruppe as Deputy Global Vice President. She also managed the national corporations for the company in Japan and the Netherlands. Her know how includes experience in terms of market entry and turnaround experience in competitive markets. Sjøstedt began her career with several years of work experience as a fashion designer and fashion buyer for different retailers in Asia.

Dr. Stephan Fanderl, Chairman of the Supervisory Board of Karstadt GmbH, comments: "I am delighted because with Eva-Lotta Sjøstedt we have won a retailer and top manager who can look back on a highly successful international career and several major challenges that she has successfully mastered. With her, we gain a lot of skills for the future path of Karstadt. In a difficult retail climate, we had a difficult year. Eva-Lotta Sjøstedt knows the loyalty of our customers and knows what enormous potential thereby lies in Karstadt and its employees. It will help us to continuously improve our business."

Fanderl also thanked Dr. Andrew Jennings: “Under the leadership of Andrew Jennings, Karstadt experienced an extensive modernization program of many branches, introduced many new international brands and created great events and marketing initiatives. Andrew Jennings is a retailer of appeal and there are only a few with his department store expertise. Certainly he will successfully continue this path for many years.”