Changes on the Management Board of METRO AG

16 December 2011

Mark Frese to become new Chief Financial Officer; Joël Saveuse focuses fully on Real; Frans Muller with overall responsibility for Metro Cash & Carry worldwide 

At today's meeting, the Supervisory Board of METRO AG resolved upon significant changes on the company's Management Board effective from 1 January 2012. Mark Frese was appointed new Chief Financial Officer. In this position Mark Frese, who is presently serving as CFO of Metro Cash & Carry Europe/MENA, follows Olaf Koch who will take over as CEO of METRO AG. At the same time and following a proposal from the Management Board, the Supervisory Board resolved on a new schedule of responsibilities with revised scopes of duty: Joël Saveuse will in future oversee the further strategic development and the sustainable strengthening of the Real hypermarket chain, Frans Muller will assume the overall responsibility for Metro Cash & Carry worldwide. 

Mark Frese has held numerous responsible positions in the field of finance at different entities during his 17-year career with METRO GROUP. Before his present function as CFO of Metro Cash & Carry he was in charge of Corporate Controlling at METRO AG. During the period from 2004 to 2009 he held the same position at Galeria Kaufhof. "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 AG. "In addition, the swift internal staffing of this position brings the necessary continuity to the challenging present situation at METRO GROUP". 

On the Management Board of METRO AG, Joël Saveuse, CEO of Metro Cash & Carry Europe/MENA and CEO of Real Group, will in future focus on Real and concentrate again more on the strategic management of the whole division in Germany and abroad. In addition, he retains his Management Board responsibility for the logistics company MGL and for MGB Hong Kong which is in charge of procurement activities in Asia. Given the high significance of the hypermarket business in the portfolio of METRO GROUP, Saveuse asked the Supervisory Board to be able to focus on this important pillar of METRO GROUP again: "Real has always been an important duty for me. The accomplished restructuring of Real Germany and the successful further internationalisation of the business connect me in a special way with this great company". Franz Markus Haniel thanked Joël Saveuse for his excellent work at Metro Cash & Carry Europe/MENA and at the same time welcomed his willingness to assume this important role at Real. 

Joël Saveuse's move leads to a structural change in the schedule of Management Board responsibilities: Frans Muller will be in charge of the entire business operations of Metro Cash & Carry and assume responsibility for both, the region Europe/MENA and also the region Asia/CIS/New Markets. "Frans Muller has very successfully driven the expansion of Metro Cash & Carry in Asia and the CIS countries. He will now be responsible for the further growth of Metro Cash & Carry worldwide", said Franz Markus Haniel. Until mid-February, the future structure of the Cash & Carry organisation will be "jointly developed by the Management Board team on the basis of the current strategic requirements", explained Olaf Koch. This procedure also has the full support of the Supervisory Board as stated by its Chairman, Franz Markus Haniel.