AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Julian Diaz, Chief Executive Officer and member of the Board of Directors of Dufry AG (Dufry), will step down from his position as Chief Executive Officer on May 31, 2022 and will not stand for reelection as a member of the Board of Directors at the 2022 AGM. Xavier Rossinyol has been appointed as new Chief Executive Officer of Dufry effective June 1, 2022. In order to ensure a smooth transition, Xavier will join as designated CEO and member of the Global Executive Committee on March 1, 2022. 

Julian Diaz joined Dufry as Chief Executive Officer in 2004 and was elected member of the Board of Directors in 2013. During his tenure, Julian led a team that successfully executed the strategy of profitable global expansion and sustainable growth that enabled Dufry to become the world's global leading travel retailer it is today. In recent years, he has driven the digitalization strategy and a strong ESG engagement. 

Xavier Rossinyol was already part of Dufry's management team from 2004 to 2015, first as Chief Financial Officer until 2012, and then as Chief Operating Officer EMEA and Asia until 2015. In the past nearly seven years, he has been the CEO of gategroup, the leader in airline catering and on-board retail. 

JUAN CARLOS TORRES, Chairman of Dufry, said: 'In the name of the entire Board of Directors and company, I express our immense gratitude to Julian Diaz for his outstanding dedication and extraordinary contributions to Dufry and its stakeholders. He has been the driving force of the group's development. I am very pleased to have Xavier back as our new CEO. His unparalleled industry experience, leadership skills and strategic vision will enable Dufry to recover further from the Covid-19 crisis and accelerate short- and long-term value creation.'

JULIÁN DÍAZ, CEO of Dufry, commented: 'I am grateful for the opportunity I had to lead Dufry over the past eighteen years and to contribute to its impressive growth. I thank the Board of Directors, the shareholders, suppliers and partners for their trust and support, with special thanks to all my colleagues of the Global Executive Committee and our employees. I very warmly welcome Xavier back as new CEO of the company. His unique experience will be a perfect match to lead the group to its next phase.'

XAVIER ROSSINYOL, designated CEO of Dufry, explained: 'I am honored to have been appointed as new CEO of Dufry and I thank the Board of Directors for their trust. Dufry is a great company, with an amazing team of experienced and dedicated professionals. We have a strong financial position and enough liquidity to address the short-term recovery. As a team, we will re-energize the growth and address the long-term challenges of the industry and the group. Our focus will be to captivate our customers and generate renovated shareholders value, working with our landlords, suppliers and other key partners.'

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