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Douglas Holding AG (DOU), the German cosmetics firm owned by Advent International Corp., named a Carlyle Group executive as chief financial officer after releasing six-year veteran Burkhard Bamberger from the role.
Dennis Schulze, 43, joins after Bamberger reached a “mutual” agreement with the company’s supervisory board to leave, the Hagen-based company said in an e-mailed statement today. Schulze managed German, Austrian and Swiss operations at Carlyle, which he joined in 1999, Douglas said.
Schulze’s “expertise and his extensive experience will contribute significantly to the successful development of our company,” Joern Kreke, Douglas’s supervisory board chairman and the father of Chief Executive Officer Henning Kreke, said in the statement.
Advent, the U.S. buyout firm that owns French fashion brand Gerard Darel, made a bid for Douglas in October, capping almost a year of talks with the founding family to take the German cosmetics retailer private. The private-equity firm said in January it owned a 96.1 percent stake in Douglas.
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