Vapiano SE: Changes on the Management Board - Resignation of Cornelius Everke, continuity due to Vanessa Hall's intended appointment as CEO, and foreseen extension of Lutz Scharpe's term of office in the Management Board
 

• CEO Cornelius Everke intends to resign for personal reasons from his office as member of the Management Board as per August 31, 2019 and to terminate his employment agreement in mutual consent.
• Supervisory Board intends to temporarily appoint the current Chairwoman Vanessa Hall as a member of the Management Board and CEO.
• Supervisory Board aims to expediently extend Lutz Scharpe's term of office as CFO by a further three years until June 2023.

Cologne, August 18, 2019 - The CEO of Vapiano SE (ISIN: DE000A0WMNK9), Cornelius Everke, has today informed the Supervisory Board that he intends to resign for personal reasons from his office as member of the Management Board with effect as of August 31, 2019 and to terminate his employment agreement in mutual consent.

In order to ensure continuity in the Company's management in the current situation, the Supervisory Board intends to temporarily delegate the Chairwoman of the Supervisory Board, Vanessa Hall, as member of the Management Board and CEO, provided she is re-appointed to the Supervisory Board in this year's annual general meeting. Vanessa Hall declared that she was prepared to run the Company until at least the end of April 2020. In addition, the Supervisory Board will immediately initiate a structured process for the appointment of a new CEO for the long term.

Cornelius Everke became a member of the Management Board as Chief Operating Officer in May 2018, in order to manage the rapid growth of the fast casual restaurant concept in international markets at that time. After the resignation of the former CEO Jochen Halfmann, he assumed responsibility as the CEO as of December 2018. In that function, he substantially contributed to the successful completion of the refinancing and the strategic repositioning and led Vapiano SE into the current phase of implementing optimisation measures on the basis of a restructuring concept validated by an independent expert. Against this background, Cornelius Everke deems Vapiano SE to be well positioned in the current strategic transition phase, but at the same time has come to the conclusion that he will not be able to contribute as planned his specific experience and competence in the field of expanding international markets for the benefit of the Company in the foreseeable future. Hence, he now resigns from his office for personal reasons.

Cornelius Everke, CEO of Vapiano SE: "I would like to thank Vapiano SE for the trust the Company placed in me. In this recent intensive period we have set the course for Vapiano SE's successful future. I wish the Company and Vanessa Hall, with whom I have worked well and trustingly together, every success."

The Supervisory Board noted Cornelius Everke's decision with regret and is thankful for his services to Vapiano SE in the past challenging phase. The Supervisory Board deems that, after the successful completion of refinancing, continuity in the management of Vapiano SE is required for the current restructuring and the implementation of the strategic repositioning.

For this reason, the Supervisory Board intends to temporarily appoint the Chairwoman of the Supervisory Board, Vanessa Hall, as member of the Management Board and CEO, provided she is re-appointed to the Supervisory Board in this year's Annual General Meeting. As the Chairwoman of the Supervisory Board, Vanessa Hall closely accompanied the process of the strategic repositioning and refinancing. She has also declared her willingness to manage the Company until at least the end of April 2020. In order to find a sustainable solution for the function of the CEO in the long term after the current year of strategic transition, the Supervisory Board will immediately initiate a structured process to look for a successor CEO, in which also Vanessa Hall will be considered as a candidate for long-term succession.

Moreover, continuity is to be ensured also with regard to the function of the Chief Financial Officer. The Supervisory Board therefore intends to extend the appointment and the employment agreement of Lutz Scharpe as CFO for a further three years until June 2023 in the regular meeting of the Supervisory Board to be held next Tuesday, August 20, 2019.

Hinrich Stahl, Vice-Chairman of Vapiano SE's Supervisory Board: "I would like to thank Cornelius Everke for his services, in particular in the intense recent phase. We are happy that Vanessa Hall has declared her readiness to now lead the company as CEO on the current path and have great confidence that Vanessa Hall, Lutz Scharpe and Johann Stohner who joined as Chief Transformation Officer on July 1, 2019, will successfully shape the future immediately ahead of us."

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About Vapiano

With its innovative "fresh-casual-dining concept" in 2002 the Italian lifestyle brand Vapiano established a new category in the food service industry. Quality, an uncompromising freshness of the ingredients and transparency form the foundation of the restaurant concept. In each Vapiano, pasta is freshly prepared on a daily basis. The dishes are prepared "à la minute" in front of the guests and are tailored to suit guests' tastes. The cosmopolitan ambience is also part of the recipe for success. Long oak tables encourage communication, a tall olive tree and a cosy bar and lounge area characterise the feel-good atmosphere of every Vapiano. Vapiano also stands for self-determination and individuality; guests can choose between different "Guest Journeys": they decide whether to order their food from the Vapianisti, at the terminal or via the Vapiano app and whether to pay for it using the chip card or the app. In addition, the company is offering take-away and delivery services. As of 31 March 2019, 233 restaurants in 33 countries on five continents belong to the Vapiano network. Vapiano shares (ISIN: DE000A0WMNK9) have been traded in the Prime Standard of the Frankfurt Stock Exchange since June 27, 2017. For further information please visit ir.vapiano.com.

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