“After nine years at the helm of the company, Mrs. Monica Cadogan plans to pursue other entrepreneurial and personal opportunities, but remains confident in the upward trajectory of the Vivre Deco S.A business”, the online retailer said in a stock market report on Thursday.
The resignation from the position of CEO of Vivre Deco does not entail changes in Cadogan’s 45% ownership interest in the company, held through Advisory Delta SRL, alongside her husband Oliver Patrick Cadogan, a member of the Board of Directors. The fulfilment of the company’s development objectives will be further monitored by Monica Cadogan, as a shareholder.
On September 2, 2021, Vivre Executive Board members will convene to appoint a new CEO and the decision will be immediately disclosed to holders of Vivre bonds.
In April 2021, Vivre Deco listed RON34.5 million worth of bonds on the Bucharest Stock Exchange. The company closed early a private placement of bonds, raising EUR7 million from investors, at an interest rate of 5.5% a year, payable half-annually.
Vivre is one of the main online retailers in the home & deco industry in Central and eastern Europe, founded in 2012 by Romanian entrepreneurs. It operates in nine countries: Romania, Bulgaria, Hungary, Slovakia, Slovenia, Czech Republic, Croatia, Poland, and Greece.