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Page headingManagement Board Reshuffle at METRO AG

29.07.2010

Management Board Reshuffle at METRO AG

- Thomas Unger is leaving the Group
- Dr. Eckhard Cordes, Olaf Koch and Frans Muller will take over his functions

Thomas Unger (49), who has served as Vice Chairman of METRO AG since August 2009, is leaving the company's Management Board effective 30 September 2010. On 29 July 2010, the Supervisory Board of METRO AG resolved on the revocation by mutual agreement of his appointment as Vice Chairman of the Management Board. As a consequence, the Management Board will be downsized from five to four members and the responsibilities reassigned. From October 2010, the CEO Dr Eckhard Cordes will also be responsible for Media Markt and Saturn as well as for Internal Audit, and the CFO Olaf Koch for Galeria Kaufhof. The Management Board member Frans Muller will in addition assume responsibility for the Group's Real Estate segment (MAM).

Unger joined the Group as a member of the Management Board of METRO AG in August 2002 and was responsible for Corporate Finance, Planning and Controlling, Account Processing, Corporate Accounting, Risk Management, Del Credere/Collection, Tax and Insurance. Since February 2008 his duties were extended to include the Real Estate segment. In August 2009, the Supervisory Board appointed him Vice Chairman of the Management Board of METRO AG. In this function, he was responsible for the sales divisions Galeria Kaufhof and Media Markt and Saturn, the Group's Real Estate segment (METRO Group Asset Management) as well as for Internal Audit and the Programme Office for Shape 2012 since September 2009.

In his different functions, Unger contributed considerably to the reorganisation and further development of METRO GROUP. In those operational fields which he most recently supervised and was responsible for - Shape 2012, Galeria Kaufhof, Media-Saturn, Real Estate - important successes have been achieved and the tasks he set out to do have in the meantime been largely completed. Against this backdrop Unger will pursue a different professional challenge outside of the company.

The Supervisory Board and the Management Board thank Thomas Unger for the work he has done. From a prominent position, Unger contributed to the successful course of METRO GROUP.

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 around 2,100 stores in 34 countries. The Group's performance is based on the strength of its sales brands 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.

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