German-based home shopping group Otto has announced the appointment of Alexander Birken as its new chairman of the executive board, with effect from 1 January 2017.

Alexander will take over from long-serving CEO Hans-Otto Schrader, who is to step down at his own wish, having reached the age limit of 60 for Otto Group executive board members.

Supervisory board chairman Dr Michael Otto, said: “With his broad, international experience, outstanding digital competency and high personal integrity, Alexander Birken is the ideal choice to lead our group of companies into a continually successful future.

“The Shareholders are deeply grateful to Hans-Otto Schrader for his outstanding performance and we look forward to a continued, fruitful collaboration over the remaining months of his tenure.”

Furthermore, Otto has confirmed the appointment of Dr Marcus Ackermann, chairman of the Bonprix Group executive board, who will succeed Alexander Birken as member of the executive board of the Otto Group, Multichannel Distance Selling as of 1 January 2017.

Michael added: “We are delighted that Dr Marcus Ackermann is to join the Otto Group Executive Board and assume responsibility for major areas of our core businesses.”

Alexander Birken (Left), Hans-Otto Schrader (Right)