The CEO of Zalando, who is leaving, says it’s time to prioritize his wife’s life

LONDON – The co-CEO of Europe’s largest online fashion and lifestyle site has announced plans to step down next year, saying he and his wife have agreed to prioritize his professional aspirations.

Rubin Ritter, who has served as co-chair of Zalando since 2010, said on Sunday that he would like to relinquish his role at next year’s general meeting in May 2021.

“My decision is the result of many months of careful consideration. I feel it is time to give Jalandho a new direction in my life, beyond the 11 years that have been my priority,” Ritter said in a statement.

“I would like to devote more time to my growing family. In the years to come, my wife and I will agree that his professional aspirations should be a priority,” he added.

Ritter said he plans to step down to pursue “new interests beyond Zalando” and is currently reducing a contract that runs until November 2023.

Robert Gents and David Schneider will lead Zalando as co-CEOs after Ritter leaves.

Gents, Schneider and Ritter have all led the company since 2010. At the time, the Berlin-based start-up had emerged as Europe’s leading online fashion and lifestyle platform, with 35 million active customers in 17 markets.

Jalandhar recorded revenue of 85 1.85 billion ($ 2.24 billion) in the third quarter and improved its full-year guidance on the back of strong profit growth.

Zalando’s shares have risen more than 74% since the beginning of the year.

“Rubin’s impact on Zalando’s victory cannot be overstated. We will miss him a lot as a strategic thinker and leader,” Gents said in a statement.

“Rubin has always been a role model for many in the company. We owe him a lot as a business partner and friend. I hope he stays close to Zalando,” Schneider added.