Softline plans to divide the business into two companies: Softline Global (the name will change in the future) and Softline Russia. The separation will require the shareholders’ approval.

The headquarters of Softline Russia will be located in Moscow. The company CEO in Russia Vladimir Lavrov will become the CEO of Softline Russia. The CFO of Softline Holdings Plc Artem Tarakanov will transfer to the Russian division.

The headquarters of Softline Global will be located in the UK. COO of Softline Sergey Chernovolenko will become the CEO of Softline Holdings Plc, he will lead the separation process. When the separation is completed, Chernovolenko will become the CEO of Softline Global and will join its board of directors. The current CEO of Softline International Herve Tessler will become the president of Softline Global. The CFO of Softline International Burak Özer will also move to the international company.

Softline is represented in more than 60 countries. At the end of 2020 financial year, the company’s turnover grew by 8.9% to 1.8 billion dollars.

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