Metro has refused to be drawn on suggestions that there could be more management changes at the top of the company.

The German retail giant has already seen the CEO of its major shareholder take the top job at the company.

Metro confirmed yesterday (26 September) that Eckhard Cordes, chief executive of German industrial holding Franz Haniel, had been formally appointed as the company's CEO.

Cordes has replaced Joachim Körber following tensions between the two men over the future direction of the business. Franz Haniel, which also has interests in the healthcare and steel industries, owns 34.2% of Metro.

This morning, reports surfaced that Franz Markus Haniel, the supervisory board head of Franz Haniel, wants to become the chairman of the supervisory board at Metro.

However, Metro declined to comment, while officials at Haniel could not be reached for immediate comment.

Nevertheless, the reports are believed to have provoked surprise at Metro. The retailer's supervisory board met earlier this week to ratify the appointment of Cordes and just-food understands that the appointment of Mr. Haniel to the board was not discussed.

Metro is the world's third-largest retailer by sales and operates in 30 countries.