German retailer Metro Group today (16 December) announced a management reshuffle for the new year.

Mark Frese was appointed as the new chief financial officer, replacing Olaf Koch, who was appointed to the CEO role in November, replacing Dr Eckhard Cordes, who is leaving in October.

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From January Joël Saveuse, the CEO of Metro’s Cash & Carry and Real divisions – who the board was reportedly considering for the CEO role – will oversee the further strategic development and the sustainable strengthening of the Real hypermarket chain. Meanwhile Frans Muller will assume the overall responsibility for Metro Cash & Carry worldwide.

“We are pleased that, with Mark Frese, we have found a chief financial officer who has already gained extensive experience in the company and its sales divisions”, said Franz Markus Haniel, chairman of the supervisory board of Metro.

“In addition, the swift internal staffing of this position brings the necessary continuity to the challenging present situation at Metro.

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