Blog: Metro Group boss taking all roads East
Dean Best | 18 March 2008
Metro Group, a titan of the world’s retail scene, is going through a period of transition. A new chief executive has got his feet under the table and is making changes right across the business.
Much of today’s (18 March) headlines from Metro’s HQ in Dusseldorf rightly centred on the admission from CEO Dr Eckhard Cordes that the company’s hypermarket business in Germany could be scaled back in the coming months.
However, perhaps more telling were signs of Metro’s moves to expand internationally. As indicated on these pages last autumn, Metro may once have been at the forefront of globalisation in the retail sector but now, with growing competition from the likes of Wal-Mart, Carrefour and Tesco, the German giant needs to reassert itself internationally.
Look behind the headlines of Metro’s domestic business and you see that the company is looking to expand its Real chain further into Eastern Europe, with Ukraine the next port of call.
And today on these pages, we bring you news of Metro’s plans even further east as the company plans to spend some US$75m expanding its cash-and-carry business in India.
With Cordes, a former DaimlerChrysler executive at the wheel, it will be nothing but an interesting ride ahead for Metro.
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Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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