Franz Markus Haniel new Chairman of the Supervisory Board of METRO AG, Olaf Koch appointed as new Chairman of the Management Board

18 November 2011

At an extraordinary meeting held on Friday, the Supervisory Board of METRO AG elected Franz Markus Haniel as new Chairman of the Supervisory Board. Haniel, who at the same time also serves as Chairman of the Supervisory Board of Franz Haniel & Cie. GmbH, thereby takes over from Professor Dr. Jürgen Kluge who resigned from office effective 17 November 2011. Franz Markus Haniel was previously Chairman of the Supervisory Board of METRO AG during the period from November 2007 to May 2010. 

Effective from 1 January 2012, the Supervisory Board also appointed Olaf Koch as new Chairman of the Management Board. Koch has been serving as Chief Financial Officer of METRO AG since 14 September 2009. The current CEO, Dr. Eckhard Cordes, had announced on 9 October 2011 that he would not be available for a further term of office. He will leave the company on 31 December 2011. The Supervisory Board will decide about Koch's successor in his present function at its ordinary meeting on 16 December. 

Haniel expressly thanked Cordes for his work: "Dr. Cordes has performed outstanding service for METRO GROUP during the past four years. He drove the internationalisation of the Group, aligned the course towards consistent customer orientation and led METRO GROUP into the age of E-Commerce. He thereby paved the way for a consistent profitable growth course of the Company". With a view to the future CEO, Haniel said: "We are pleased that, with Olaf Koch, we found a Chairman of the Management Board who symbolises a timely transfer to a new generation and thus continuity in management. Moreover, he has demonstrated that he is driving the changes required for the company’s long-term success in close cooperation with the sales divisions". 

With these decisions, according to Haniel, "the Supervisory Board created the precondition so that METRO GROUP can now again continue its successful growth course". Against this backdrop, Haniel in the name of the entire Supervisory Board thanked Joël Saveuse, Management Board Member and CEO of Metro Cash & Carry Europe/MENA as well as CEO of Real, who, by renouncing to stand as candidate "put the interests of the company at the focus and thereby allowed for a constructive solution". This deserved "all our respect". The Management Board comprising Olaf Koch, Heiko Hutmacher, Frans Muller and Joël Saveuse stands "for success and continuity in the realignment of the company", said Haniel.