GERMANY: Metro "board split" on new CEO
By Katie Smith | 16 November 2011
German retail giant Metro Group has declined to comment on reports of a boardroom split over who will replace CEO Dr Eckhard Cordes.
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German retail giant Metro Group has declined to comment on reports of a boardroom split over who will replace CEO Dr Eckhard Cordes.
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Bright Food, the Chinese food group, this week at last planted its first flag in Europe with an investment in UK cereal firm Weetabix. Elsewhere in Europe, the CEO of Norway-based consumer goods company Orkla quit amid a disagreement with the company's board and German retailer Metro Group reported a quarterly loss. We also published our latest Sustainability Watch interview, which focused on US food giant General Mills. Click on the headlines for more.
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Bright Food, the Chinese food group, was full of confidence this week about the prospects for UK cereal firm Weetabix, its first investment in Europe after missing out on companies including United Biscuits and Yoplait. Elsewhere, Orkla explained why its CEO had resigned from the Norwegian consumer goods group, German retailer Metro Group insisted its sales were improving after it reported a quarterly loss and UK peer Morrisons said it would not chase unprofitable volumes despite a fall in like-for-like sales.
GERMANY: Real, cash-and-carry help push Metro into red
Metro Group's Real hypermarket and cash-and-carry divisions have contributed to the German retail giant losses widening in the first quarter of the year.
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