The head of a key shareholder in German retail giant Metro is to take the top job at the company, it was announced today (20 September).

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Eckhard Cordes, CEO of German industrial holding firm Franz Haniel, looks set to replace Hans-Joachim Körber, who is to leave Metro after 22 years at the company


Haniel owns a 34.24% stake in Metro and Cordes already heads the retailer’s supervisory board.


Metro said Körber had asked to leave the business, which he first joined in 1985. Körber was appointed as CEO in 1999 and took on the additional role of chairman in 2001.


Metro said Körber had been “instrumental” in expanding the business worldwide. The retailer is the world’s third-largest by sales and operates in 30 countries.

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