Mytheresa nominates Richemont CFO to board

Mytheresa has nominated Burkhart Grund, the chief financial officer of Richemont, as its new supervisory board member, subject to the completion of its Yoox Net-A-Porter (YNAP) takeover.The proposal is set to be voted on by shareholders at an extraordinary general meeting on 6 March, 2025. 

Last October, Mytheresa and Richemont signed a deal for Mytheresa to acquire YNAP, featuring the Net-A-Porter, Mr Porter, Yoox and The Outnet brands, for €555m (£464m).

Following the deal, Richemont will acquire a 33% stake in Mytheresa, while Mytheresa will acquire 100% of the share capital of YNAP.

As part of the transaction, Richemont has the right to nominate an individual for election to the supervisory board.

Grund started his Richemont career in 2000 as CFO of Montblanc in France, before becoming CFO of Van Cleef and Arpels and later group deputy finance director, before his appointment to the senior executive committee as group CFO in 2017. 

Nora Aufreiter, chair of the supervisory board of MYT Netherlands Parent B.V., said: “With Burkhart Grund, we look forward to welcoming an internationally experienced financial expert to our board. As a nominee of Richemont, we will expand the supervisory board by one seat to consist of eight members. 

“We feel honored to work with another high-caliber individual in the future and are convinced that we will be able to accelerate the profitable growth and sustainable success of our combined companies following the transaction. The supervisory board will remain composed of a majority of independent directors under both NYSE and Dutch Corporate Governance Code standards.”