Metro Group has appointed Permira executive Olaf Koch As its CFO, the German retailer has revealed.

Koch, who had served as managing director of operations at Permira, replaces Thomas Unger as CFO. 

Unger, meanwhile, has been appointed vice chairman of the company’s management board, the German retailer has said. 

In his new position, Unger will be responsible for the sales divisions Media Markt and Saturn as well as Galeria Kaufhof on the management board.

He will also be in charge of Metro’s internal audit and support the group-wide implementation of the efficiency and value-enhancing programme ‘Shape 2012’ more intensively.

Unger will continue to manage Metro’s real estate segment as an additional pillar to the company’s operations.

Koch will join the management board as CFO from 1 October.