Makro UK pushes for turnaround

10 June 2011

Reorganisation of top-management

In order to accelerate its restructuring and turnaround efforts, self-service wholesaler Makro today announced significant changes in its management board. Effective immediately, four out of the five positions will be newly assigned.

Due to differing views on the strategic direction of the company, the Managing Director and the responsible board members for Customer Management, Finance and Operations have left the company on amicable terms, based on mutual agreement.

To ensure a fast and effective transition, the respective board positions will be taken over by senior professionals from the professional service firm AlixPartners, namely Klaus Raettig (Managing Director), Jens Koeppen (Finance), Dan Murphy (Assortment and Stock Management) and Martin Schumacher (Operations). AlixPartners already supports Makro UK in its restructuring activities, as an advisor, and the nominated managers are well integrated in the activities and understand the challenges the company faces. This will enable the new board members to act quickly and decisively.

The current board member Huw Edwards will take on additional responsibilities as Commercial Director for offer, merchandizing and marketing.

Makro currently runs 30 stores across Great Britain and is targeting a turnaround of its underperforming business. The new management team will ensure a fast and professional steering of this process.

Makro UK is an entity of Germany-based wholesaler METRO Cash & Carry. The company is represented in 30 countries with around 700 self-service wholesale stores. With more than 100,000 employees worldwide, METRO Cash & Carry achieved sales of about € 31 billion in 2010. It’s a sales division of the METRO GROUP, one of the largest and most international retailing companies. In 2010 the Group reached sales of around € 67 billion. The company has a headcount of about 280,000 employees and operates over 2,100 stores in 33 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.