German retail giant Metro Group has declined to comment on reports of a boardroom split over who will replace CEO Dr Eckhard Cordes.
According to the newspaper Financial Times, Metro’s supervisory board is divided over who will succeed Cordes. The FT stated said the there is a split over two candidates – Metro CFO Olaf Koch and Joël Saveuse, CEO of Metro’s Cash & Carry and Real divisions.
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Last month, Cordes decided he would not ask for a renewal of his contract next year due to “trust” issues between himself and management.
When contacted by just-food today, both Metro and major shareholder Haniel declined to comment on the reports.
“We do not comment on the report as the succession of Dr Cordes as chairman of the management board is a matter of the supervisory board only,” a spokesperson for Metro said.
A Metro board meeting is due to take place on Friday (18 November) in which Haniel board chairman Franz-Markus Haniel is expected to be named chairman of the retailer’s supervisory board, replacing Professor Dr Jürgen Kluge who announced his resignation last month.
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By GlobalDataA source close to the situation recognised that a decision on who will replace Kluge needs to be made quickly because situation with its department store chain, Galeria Kaufhof. Last month, Metro confirmed that it was in talks with parties about selling the chain.
