* Three employee representatives join board
* Zalando AG becomes Zalando SE
* Structure change has no bearing on possible IPO-spokesman
BERLIN, May 28 Europe's biggest online fashion
retailer Zalando is appointing the former boss of Deutsche
Telekom to its board as well as three employee
representatives as it changes its legal structure amid
preparations for a possible flotation.
Zalando said former Telekom Chief Executive Kai-Uwe Ricke
would join the company's supervisory board, along with employee
representatives Christine de Wendel from France, Christoph Stark
from logistics and fashion buyer Benjamin Kruemel.
Ricke, 52, was Telekom CEO from 2002 to 2006 and is a board
member at United Internet. He replaces temporary member
Martin Weber, a partner at Holtzbrinck Ventures, an early
investor in Zalando.
Zalando, which changed its legal structure in December to
one typically used by German listed companies, is now registered
as a Societas Europaea (SE), it said on Wednesday, a structure
which it said better reflected its international approach with
over half its revenues now coming from outside Germany.
A spokesman said the change had no bearing on a possible
stock market listing for Zalando, which he reiterated was among
a number of options the company is considering for the future.
Reuters reported earlier this month that Zalando has picked
banks to organise what could be Europe's biggest technology
offering since 2000, citing people familiar with the plans.
Zalando has said it is getting closer to making a profit
after it improved the efficiency of its warehouses and marketing
and saw good sales of spring/summer collections.
Figures from Zalando's biggest investor, Swedish firm
Kinnevik, value the company at more than $5 billion,
but analysts suggest it could be worth as much at $9 billion.
The Berlin-based retailer, whose rivals include Britain's
ASOS Plc, started selling shoes in Germany in 2008 and
has expanded to 1,500 different brands in 15 countries.
(Reporting by Emma Thomasson, editing by Alister Doyle)