The German company, in which the Permira investment fund acquired a 49 percent minority stake earlier this year, wants to continue to offer both lenses and frames, but its business with frames and sunglasses will be limited to the Rodenstock and Porsche Design brands. One line is classical and the other one is trendier, but both are positioned in a relatively high level of the market. Instead, 4 other lines of Rodenstock ? NiGuRa, Enjoy, Feraud and Reebok ? are positioned in the low and medium segments of the market. Housed within Rodenstock's NiGuRa subsidiary in Düsseldorf, they are being sold to Moulin International along its CEO, Helmut Otto, for integration into its own German-based Metzler International subsidiary. Another frame license of Rodenstock, Cerruti 1881, will not be renewed after it expires at the end of 2004.
Meanwhile, Giancarlo Galli is appointed as the new CEO of Rodenstock, replacing 55-year-old Randolf Rodenstock who is stepping out of the day-to-day management to act as chairman of the supervisory board. He has worked for the family-owned company all his lift, first together with his father Rolf and then single-handedly since 1990. He was responsible for divesting the precision optics and equipment operations and concentrating the company, which had sales of just under €40 million last year, on spectacle lenses and frames.
Galli, who takes his new functions on Nov. 1, is a 43-year-old Swiss national. He has been active in various sales, marketing and general management positions with several important German and international companies, including Colgate-Palmolive Europe, Hilti Befestigungstechnik and FAG Kugelfischer Georg Schäfer. The other members of Rodenstock's executive board remain in place.