DIETER KASPRZAK Based in Tønder, Denmark President and CEO CEO’s REPORT Despite worldwide challenges in the shoe industry, ECCO has managed to deliver yet another good result in 2016. The footwear industry is changing and this means that we as a company have to change, too. In order to meet new demands and to take advantage of the possibilities from increased digitalisation and e-commerce, we are investing in, and optimising, our structures. We are preparing for the future and our 2020 strategy is still valid and in progress. Continuous improvement of our business processes, and reduction of costs, mean that we also maintain the highest possible profitability. This, of course, is based on never compromising on the quality and comfort of our products. In 2016, we have continued our expansion and opened many new premium ECCO retail shops, including flagship shops at prime locations in Berlin, Hamburg, and Tokyo. In Amsterdam, we have launched an innovative shop concept, which is complementing our Innovation Lab, where new innovative collections and techniques will be tested. These initiatives are encouraging and it makes me full of optimism when looking ahead. Stepping down as Chief Executive, I recognise that 2017 will be another challenging year for ECCO. However, I am very confident that our management and staff are well prepared to respond effectively to secure ECCO’s position as a leading international producer of shoes, leather, and accessories. Dieter Kasprzak President & Chief Executive Officer 2 ECCO Annual Report 2016
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