Employment contracts signed for Management Board of future METRO AG

31 March 2017

Management Board of METRO AG, Wholesale and Food Specialist
  • Olaf Koch was appointed for another five years till 1 March 2022 as Chairman of the Management Board (CEO) of the company
  • Christian Baier (CFO), Pieter Boone (COO) and Heiko Hutmacher (CHRO) were appointed till 30 September 2020

At the most recent Supervisory Board meeting of METRO Wholesale & Food Specialist AG the members of the Management Board of the company, which will be renamed METRO AG in the future, were appointed. Olaf Koch was appointed for another five years till 1 March 2022 as CEO of the company. Christian Baier (CFO), Pieter Boone (COO) and Heiko Hutmacher (CHRO) were appointed for terms of approximately three years till 30 September 2020. In the follow-up to this Supervisory Board meeting now also the corresponding employment contracts of the Management Board members of the future METRO AG have been signed.

"We are very pleased to see that the future METRO AG will be managed by this strong Management Board team. This is reflected in the unanimous vote of the Supervisory Board", says Jürgen B. Steinemann, Chairman of the Supervisory Board of METRO Wholesale & Food Specialist AG. "We purposefully decided upon a longer than usual contractual term for Olaf Koch. With this move, we wanted to send a clear signal, both internally and externally, that the strategic alignment of the future METRO is driven sustainably and with the necessary continuity".

Until the effectiveness of the demerger, Olaf Koch, Pieter Boone and Heiko Hutmacher will also remain members of the Management Board of the present METRO AG (future CECONOMY AG) – together with Pieter Haas and Mark Frese.

This investor news may contain forward-looking statements based on current assumptions and forecasts made by Metro management and other information currently available to METRO. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. METRO does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.

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