FLENSBURG, Germany — Michael Specht, the managing director of the Be You adult retail chain in Europe, has resigned.
Specht, who had taken over the top post at the company two years ago while the company was in financial dire straits, said today that he was leaving the retailer because he wanted to spend more time with his family.
During his tenure, Specht was instrumental in changing the company’s brand name from Beate Uhse to Be You.
Specht last week handed over day-to-day leadership of Be You to colleagues Lucas Hülsmann and Craig Wheeler.
Specht, in a farewell address, said the company is fully financed until the end of 2019. He noted the company recently sold 10 Be You stores to Orion.
"Our goal was to reorganize the be you group in a profound and sustainable way and to put it on a sustainable and, above all, future-proof new basis, which we have achieved with the hard work of recent months and years and significant strategic changes,” Specht said in his farewell address.
“The strategic reorientation of the group is proceeding successfully and is already bearing its first fruits, which means that I see very good opportunities for the future development of the Be You group and have fulfilled my task. I would like to devote more time to my family."
Just last year, investor Robus Capital infused the company with funds to help stave off shutting down. The company previously filed for insolvency (equivalent to Chapter 11 in the U.S.) in 2017 and restructured and rebranded to Be You under Specht.
Be You sells lingerie, sex toys and DVDs in stores and on the internet.
The adult retailer was founded in 1946 by former Luftwaffe Pilot Beate Rotermund-Uhse, who opened the world’s first sex shop in Flensburg in 1962.
Pictured: Former Be You Managing Director Michael Specht