François-Henri Pinault was named chairman of the supervisory board of Puma AG Wednesday, June 20th. As a consequences of the approval of the takeover for Puma by anti-trust authorities, three members of PPR’s senior management has been appointed to the supervisory board of the german brand.

François-Henri Pinault, CEO of PPR - Photo : Timm Schamberger/AFP

« I would like to thank the Supervisory Board of Puma for appointing me », stated François-Henri Pinault, chairman and CEO of French luxury goods group PPR. « The new structure of the Supervisory Board fully reflects the role we wish to play in partnership with Puma. I should add that the offer acceptance period expires tomorrow. This offer represents a unique opportunity for Puma shareholders to extract full value from their shares.»

The current takeover launched June 14th by PPR is ending June 20th 2007 at a price of 330 euros per share. The results of the offer will be published on June 27th 2007.

Global player in retail and luxury goods, PPR is owner of the Luxury brands of Gucci Group (Gucci, Bottega Veneta, Yves Saint Laurent, YSL Beauté, Balenciaga, Boucheron, Sergio Rossi, Bedat & Co, Alexander McQueen and Stella McCartney) and has generated sales of euro 17.9 billion in 2006.