METRO GROUP changes management positions

10 September 2010

  • Changes in the management at METRO AG, Metro Cash & Carry and the real estate segment

METRO GROUP reshuffles important second-level management positions. In the framework of the repositioning of the real estate management under Frans Muller who is responsible for this segment on the Management Board of METRO AG, the management of METRO Group Asset Management GmbH (MGAM) will be changed. Moreover, positions in the central administration of METRO AG will be newly filled. 

Thomas Ziegler, currently Chief Financial Officer of Metro Cash & Carry Europe & MENA, will become the new Chief Executive Officer of MGAM. Thomas Ziegler has been working for the Group for more than 13 years in leading positions in Germany and abroad. With this decision, METRO AG Management Board member Frans Muller who, in addition to his responsibilities for Metro Cash & Carry Asia, CIS & New Markets will also be in charge of the real estate as from 1 October, is setting a new course for this segment. The present CEO of MGAM, Prof. Michael Cesarz, and Dr. Dieter Haag Molkenteller, presently Managing Director Real Estate Management, will leave the MGAM management upon mutual agreement with the Board of METRO GROUP effective from 1 October. On his own request, Michael Cesarz will pursue his career outside of METRO GROUP. Dieter Haag Molkenteller will in future support the Board of METRO AG on strategic questions. 

"We thank the present management of MGAM for their successful work. In particular, Michael Cesarz and Dieter Haag Molkenteller have modernised the traditional real estate and centre management. These are the foundations we can now build on", said Frans Muller. "An active portfolio and asset management represents a key success factor for the Group's international expansion and a better interaction with the operational business of our sales divisions, which we now want to drive further". 

The successor of Thomas Ziegler as CFO of Metro Cash & Carry Europe & MENA will be Mark Frese, presently Head of Corporate Planning & Controlling at METRO AG. Mark Frese has already been with the Group since 1994 and held various management positions at Galeria Kaufhof and METRO AG. In his new function, Frese will report to the CFO of METRO AG, Olaf Koch. 

Henning Gieseke, presently Head of Investor Relations, will assume the function of Mark Frese. Gieseke has been with the Group since 1997. Following different management positions within the Group's headquarters he has been heading the Investor Relations unit since 2005. In his position he will be succeeded by Oliver Steinert who has been working in this unit since 2006. 

METRO GROUP is one of the largest and most international retailing companies. In 2009 the Group reached sales of around € 66 billion. The company has a headcount of some 290,000 employees and operates over 2,100 stores in 34 countries. The Group's performance is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry - the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn - European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.