Ceconomy CEO Kai-Ulrich Deissner is stepping down from the electronics retail holding company, which is on the verge of being acquired by Chinese tech giant JD.com. "This decision is a deeply personal one," the 57-year-old told Reuters news agency on Friday. He noted that change had always been a part of his life. "I'm not leaving out of fear or because I have to, but because I can." He will hand over his position during the course of 2026. The current Ceconomy CFO, Remko Rijnders, is set to succeed him at the helm of the owner of electronics retail chains MediaMarkt and Saturn. The supervisory board's executive committee has endorsed the Dutchman. On Thursday, the supervisory body is set to discuss the CEO succession. Deissner had served as Ceconomy's CFO since February 2023 and was promoted to CEO in May 2025. He succeeded Karsten Wildberger, who left to become a minister in Chancellor Friedrich Merz's cabinet. Deissner is not seeking another CEO role. A "NORMAL" CEO TRANSITION – "WE ARE SHAPING THE TRANSITION" In the past, Ceconomy had seen surprise management changes amid shareholder disputes, missed forecasts, and strategic debates. Under Wildberger and Deissner, however, the holding company returned to a growth trajectory. "Now we're doing what normal companies do: we're shaping a transition from one management team to another, and we're actively managing it, it's not just happening," Deissner said. He expects the JD.com takeover to be completed within the first half of the year. Deissner emphasized that his decision is unrelated to the acquisition. "This company is on solid and positive footing," he stressed. Talks with JD.com so far have been "very constructive." "They give me confidence that entering into this partnership was absolutely the right decision," he said. "We've been implementing a strategy here for three years, and this partnership won't change that," he added. "That naturally applies under the new management as well." Deissner is confident that Ceconomy will continue to grow alongside JD.com, particularly in logistics and technology, areas where Ceconomy expects to benefit from JD.com's expertise. "Through the partnership, we have access to technologies, world-leading retail expertise, and supply chains that are second to none globally." A JD.com spokesperson said the company respects Deissner's decision. "Without his commitment, this transaction would not have been possible in this form," the spokesperson added. JD.com has already secured a total stake of 85.2 percent in the Düsseldorf-based company, with final regulatory approvals for the takeover still pending. Ultimately, the Chinese online retail giant intends to delist Ceconomy. Through the acquisition, JD.com will gain access to major online shops as well as over 1,000 physical stores, allowing it to expand its European operations and better compete with Alibaba and Amazon. Ceconomy employs around 48,000 people, about 17,000 of whom are based in Germany. (Reporting by Matthias Inverardi, edited by Ralf Banser. For inquiries, please contact our editorial teams at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).) - by Matthias Inverardi