Fosun International'S Underwear Brand Wolford CEO Resigned Today.

The board of supervisors of silk stockings and underwear brand Wolford announced that its chief executive, Axel Dreher, was officially leaving in October 31st.

In addition, the Wolford board of supervisors has announced the appointment of Silvia Azzali, the incumbent global sales and product director, as chief business officer (CCO). Silvia Azzali has working experience in brands such as Moschino, Ermano Scervino and La Perla. In the future, she will form a new management team with chief operating officer (COO) Andrew Thorndike.

Statistics show that the main products of Wolford, founded in Austria in 1950, are high quality stockings, underwear and pajamas. In 1995, Wolford AG (referred to as "Wolford", Vienna Stock Exchange: WOL) was officially listed on the Vienna stock exchange. In May 4, 2018, China Investment Group Fosun International announced that it had completed its acquisition of Wolford and became its largest shareholder.

According to the latest financial data, 2018/19 net sales decreased by 8% to 137 million euros in the fiscal year of 2018/19, and the operating loss was 8 million 980 thousand euros, down 3% compared to the same period last year. The net loss was 11 million 100 thousand euros, down 4% compared to the same period last year.