Börse Express – WDH: Metro boss Olaf Koch may go to the end of the year

(First name in 1st paragraph added: Olaf)

DÜSSELDORF (dpa-AFX) – The CEO of the Metro retail group can give up his office as desired at the end of the year. The supervisory board agreed to the amicable cancellation of the contract as of December 31, 2020, the company announced on Sunday in Düsseldorf. Olaf Koch’s wish became known on Friday.

The supervisory board thanked the manager for his “great services” and had decided on an orderly process for selecting a new top management, it said. This will start on Monday. Koch’s contract originally ran until the end of February 2022. The notification, like the one on Friday, did not contain a reason for the early departure.

Koch has been the head of the MDax since 2012 -Group. He gradually converted Metro into a pure wholesaler. The retailers Mediamarkt, Saturn and Real were spun off from the group. Metro recently sold its China business. However, the corona crisis is putting the company under pressure, as can be seen from the development of the share price since the beginning of the year

 ISIN  DE000BFB0019

AXC0036 2020-08-23/15:45

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