The wholesale group Metro needs to find a new boss. The long-standing chief Executive, Olaf Koch had informed the Supervisory Board chief Juergen Steinemann, that he did not want to extend his March 2022 expiring contract, told Metro on Friday. Boiled wool is already leaving the end of the year from the Board. The Supervisory Board will now spend the “short run” with the change of personnel. Koch was moved in 2012 to the post of CEO of the Metro and had converted the wide-branched and highly-indebted group to a pure wholesaler and the debt of over seven billion euros is pressed. Among other things, he sold the Department store giant Kaufhof Department store and the supermarket chain Real, and furthermore, he split the electronics retail chains Media Markt and Saturn.
© SZ from the 22.08.2020 / Reuters