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MarketScreener Homepage  >  Equities  >  Xetra  >  Metro AG    B4B   DE000BFB0019

METRO AG

(B4B)
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METRO : decides on Management for transition period

11/23/2020 | 06:43am EST

PRESS RELEASE

23 November 2020

METRO AG DECIDES ON MANAGEMENT FOR

1 - 2

TRANSITION PERIOD

  • CFO Christian Baier and COO Rafael Gasset appointed Co-CEOs ad interim as of 1 January 2021
  • Search for new CEO on track

Düsseldorf, 23 November 2020 - The METRO AG Supervisory Board has decided on the management for the transition period after CEO Olaf Koch leaves the company on 31 December 2020. With effect of 1 January 2021, the Management Board members Christian Baier, CFO, and Rafael Gasset, COO, will jointly assume the position of the CEO function for the transition period. Together with the other 2 Board members Andrea Euenheim, CHRO, and Eric Poirier, COO, the Supervisory Board is convinced that the Management Board has the right capabilities and competencies in place to take the business forward. The current search process for the new CEO is on track.

"The Supervisory Board has every confidence in entrusting Christian Baier and Rafael Gasset with the role as co-CEOs of METRO. Both combine proven financial expertise as well as long-standing operational wholesale experi- ence. Together with their Board colleagues and under the leadership of our departing CEO Olaf Koch, Christian Baier and Rafael Gasset have shown great resilience in steering the company throughout the pandemic. On behalf of the Supervisory Board I would like to thank both for assuming the extra responsibilities and wish them much success. The ongoing search for a new CEO is on track and we look forward to announcing a successor in the coming months," said Juergen Steinemann, Chairman of the Supervisory Board of METRO AG.

Christian Baier, who joined METRO in 2011, has been a member of METRO AG's Management Board since November 2016. His current appointment to the Management Board runs until 30 September 2025. Rafael Gasset, who joined METRO in 2008, became a member of the Management Board of METRO AG in April 2020 and was appointed until 31 March 2023. As COO, he represents countries with a customer focus on independent traders, including Eastern Europe, Russia and Asia. Both experienced managers are looking forward to taking on the role of co-CEOs leading the company.

METRO is a leading international wholesale company with food and non-food assortments that specialises on serving the needs of hotels, restaurants, and caterers (HoReCa) as well as independent traders. Around the world, METRO has some 16 million customers who can choose whether to shop in one of the large-format stores, order online and collect their purchases at the store or have them delivered.

METRO AG

Metro-Straße 1

T +49 211 6886-4252

Supervisory Board: Jürgen B. Steinemann, Chairman

Commercial register

40235 Düsseldorf, Germany

www.metroag.de

Management Board: Olaf Koch, Chairman

of the Düsseldorf

P.O. Box 230361

presse@metro.de

Christian Baier, Andrea Euenheim, Rafael Gasset,

Local Court

40089 Düsseldorf, Germany

@METRO_News

Eric Poirier

HRB 79055

PRESS RELEASE

23 November 2020

METRO in addition also supports the competitiveness of entrepreneurs and own businesses with digital

2 - 2

solutions and thereby contributes to cultural diversity in retail and hospitality. Sustainability is a key

pillar of METRO's business. METRO has been in the Dow Jones Sustainability Index for the past 6 years.

The company operates in 34 countries and employs more than 100,000 people worldwide. In financial

year 2018/19, METRO generated sales of €27.1 billion. For more information, please visit

www.metroag.de

METRO AG

Metro-Straße 1

T +49 211 6886-4252

Supervisory Board: Jürgen B. Steinemann, Chairman

Commercial register

40235 Düsseldorf, Germany

www.metroag.de

Management Board: Olaf Koch, Chairman

of the Düsseldorf

P.O. Box 230361

presse@metro.de

Christian Baier, Andrea Euenheim, Rafael Gasset,

Local Court

40089 Düsseldorf, Germany

@METRO_News

Eric Poirier

HRB 79055

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Metro AG published this content on 23 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 11:42:08 UTC


© Publicnow 2020
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Financials
Sales 2021 26 087 M 31 742 M 31 742 M
Net income 2021 147 M 179 M 179 M
Net Debt 2021 3 098 M 3 770 M 3 770 M
P/E ratio 2021 25,0x
Yield 2021 2,96%
Capitalization 3 687 M 4 477 M 4 486 M
EV / Sales 2021 0,26x
EV / Sales 2022 0,28x
Nbr of Employees 88 306
Free-Float 33,2%
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Technical analysis trends METRO AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 8,80 €
Last Close Price 10,15 €
Spread / Highest target 77,4%
Spread / Average Target -13,3%
Spread / Lowest Target -59,6%
EPS Revisions
Managers and Directors
NameTitle
Christian Baier Co-Chief Executive Officer & CFO
Rafael Gasset Co-Chief Executive & Operating Officer
Jürgen B. Steinemann Chairman-Supervisory Board
Eric Poirier Co-Chief Operating Officer
Gwyneth Victoria Burr Member-Supervisory Board
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