A Metro Group executive has been appointed as the new managing director of troubled UK cash-and-carry chain Makro.
The wholesaler said today (19 July) that Juergen Schwarze was a “restructuring specialist” and said the appointment underlines Metro’s “firm intention” to turn around the business.
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Schwarze joined Metro in 2008 as corporate head of internal audit. Prior to this, he served as manager of business administration and group director of corporate audit at Metro shareholder the Haniel Group. He has also held roles at PriceWaterhouseCoopers and Ernst & Young.
“I am grateful and very much looking forward to getting into this important position and to working together with all the colleagues in the UK on the turn-around of our business”, Schwarze said. “We all know that we have a very challenging job ahead, but I am absolutely confident that there is a lot of potential and many options as long as we fully focus on the needs of our customers.”
In June, four of Makro’s board left the cash-and-carry operator and were replaced by consultants from AlixPartners, which Metro said has been supporting thw wholesaler as an advisor on its restructuring efforts.
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