Metro: CEO to leave at end of year

(CercleFinance.com) - Olaf Koch, Metro's CEO, will leave his office after eight years at the helm of the German retail group, Metro said in a statement issued on Sunday.


Koch, who took over as CFO in 2009 and was then appointed CEO in 2012, will leave the company on 31 December 2020, the group said.

The announcement comes at a time when Metro, like many of its competitors, is facing a profound change in the sector and a shift in consumer habits.

Koch has successfully reduced the group's debt by making numerous divestments that have transformed the group from a conglomerate to a wholesale specialist.

In its press release, Metro states that it has already begun its search for a successor.

Invest Securities analysts say that it is difficult to project the future in the post-Olaf Koch era.

The Metro share was pretty flat in Frankfurt on Monday morning (+0.4% at 10 am).



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