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Sayfa başlığıHerbert Krämer assumes post as Speaker of the Praktiker Management

23.03.1999

Herbert Krämer assumes post as Speaker of the Praktiker Management

Supervisory Board and Management Board propose full retention of income

In its meeting today, the Supervisory Board of Praktiker AG, Kirkel, has approved the appointment of Herbert Krämer (46) as new Speaker of the Management Board. Earlier than expected, Mr. Krämer will assume his duties effective 23 March 1999, and will be responsible for operations, expansion, marketing and public relations. As a member of the Management Board at the OBI Group, Mr. Krämer was responsible for operations and expansion and commands a long history of experience in developing store locations, operating concepts and franchise management.

Moreover, the Supervisory Board approved the Management Board's decision to propose passing the dividend for fiscal year 1998 to this year's Annual General Meeting. In order to fortify the equity base of the Company, net profit should be retained in revenue reserves.

Praktiker AG achieved a result from ordinary operations of DM 75.4 m on sales of DM 4.87 bn in 1998. On a like-for-like basis, sales decreased 4.8%.

Further information regarding the audited accounts for fiscal year 1998 will be presented by the Management Board at its balance sheet press conference on 7 April 1999. The Annual General Meeting will be held on 20 May 1999 in Saarbrücken, Kongresshalle.

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