Jürgen Kluge resigns as chairman, board member of Metro, effective next month

DUSSELDORF, Germany , October 17, 2011 () – Prof Dr Jürgen Kluge, Chairman of METRO AG’s Supervisory Board, has today announced his resignation from the Supervisory Board with a notice period of one month in accordance with the articles of association.

METRO AG's Management Board stated its "highest respect and appreciation" for Prof Dr Kluge's decision and thanked him for his support in repositioning the company: "Mr Kluge supported METRO AG in challenging times and assisted important strategic decisions." Furthermore, "in an intensive dialogue, he engaged with the Management Board in a constructive and trustful manner".

The Haniel family has requested - respecting the participation rights of the Supervisory Board - METRO AG's Management Board to apply for the appointment by court of Mr Franz Markus Haniel to succeed Prof Dr Kluge as member of the Supervisory Board.

METRO GROUP is 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 some 280,000 employees and operates more than 2,100 stores in 33 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.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.