“Stoica will take over as the new CFO of Deichmann starting April,” Deichmann Romania representatives told news agency MEDIAFAX.
Stoica has been working as CFO at BauMax Romania since January 2013 and had previously held similar positions with German group Lidl.
Deichmann opened 11 stores in Romania last year and plans to open another six in 2014. Deichmann reported gross revenue of 251.2 million lei (EUR56.8 million) in Romania in 2013, up 15.4% from RON217.7 million a year earlier.
Early April, BauMax, which owns 15 units in Romania, said it will close its seven outlets in Turkey and will decide on exiting other markets in Southeast Europe, including Romania, by the end of April.
Austrian state declined the proposal to buy the art collection of Karlheinz Essl, the owner of BauMax, which is valued at EUR250 million. Essl was planning to inject the money obtained this way into his business and save thousands of jobs.
BauMax, which employs about 10,000 people in nine countries, reported a EUR126 million loss in 2012 after overextending itself with a push into Eastern Europe, and into Turkey in 2010, according to Reuters.
In 2012, the company reported the biggest loss, of EUR26 million, in Romania, followed by Turkey, with EUR14 million, according to Austrian newspaper Die Presse. Except for Slovakia, BauMax reported losses on all its East-European markets. The 2013 results were not published yet. BauMax’s creditor banks, including Raiffeisen, Erste Group and Bank Austria, will decide on April 28 on approving a restructuring plan for BauMax.
BauMax has 158 stores, almost half of them in Austria and the rest in the Czech Republic, Slovakia, Hungary, Slovenia, Croatia, Romania and Bulgaria, and Turkey.