Metro Group CEO Dr Eckhard Cordes wants to extend his contract to lead the German retail giant, despite a lack of support from key shareholder Haniel.
Dr Cordes told German newspaper Handelsblatt that he is optimistic that he can work for Metro beyond October next year, when his contract expires.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Cordes’ comments come despite opposition to his leadership from family-owned conglomerate Haniel, which owns 34% of Metro. Earlier this week, a source told just-food that the head of the conglomerate, Mr Franz Haniel, had told Cordes that that he had lost the support of Haniel family.
Following Cordes’ interview with Handelsblatt, the source told just-food today (16 September) that there had been discussions between the parties to “calm down the situation” and to “focus on [Metro].”
However, Haniel still holds the same opinion on Dr Cordes, the source reiterated.
The Metro supervisory board is expected to have a meeting to discuss the topic again in November, the source concluded.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
