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    Alexander Labak joins Home Credit Group as CEO & Managing Partner to lead profitable expansion
    10/02/2006

    PPF Group announces the appointment of Alexander Labak into the newly created position of Chief Executive Officer and Managing Partner of the Home Credit Group, a leading consumer finance provider in Central & East Europe.

    Petr Kellner, Chairman of the holding PPF Group commenting on the appointment: “Mr. Labak joining Home Credit Group marks a decisive step in our company’s development as we are pushing to profitably expand our market position. His successful track record with leading companies and his multinational management experience will provide the critical foundation to establish a world-class consumer finance business.”

    Before joining Home Credit Group Mr. Labak held executive positions in leading financial services companies such as President, Mastercard Europe and as Chief Marketing Officer, Deutsche Bank. Further he built up a distinct consumer centric profile working for Johnson & Johnson and Henkel. Throughout his career Mr. Labak had European and global business responsibilities complemented by direct operating market experience in the United States, Canada, Germany, Italy, Belgium and Austria. He is a Fulbright Scholar holding an MBA from the Wharton Business School and a PhD from the Vienna University of Economics & Business Administration. Mr. Labak is an Austrian national.

    Mr. Labak specifying further: “Home Credit is well positioned to benefit from growth opportunities especially in the CEE countries and I look much forward to the entrepreneurial challenge to deliver a thriving business. As Managing Partner I will concentrate to manage the company for value. Efforts will focus on dynamically building the consumer finance franchise by innovating the go-market in areas where customers have been underserved and on putting into place a robust operational platform staffed with an internationally experienced management team to assure rigorous delivery.”

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