German wholesale giant Metro AG has extended the contract of its CEO for another five years. This means that Dr Steffen Greubel will remain in the role until 30 April 2029.
Metro stated that with the decision, its Supervisory Board had confirmed the long-term strategic orientation of the company, which was developed by the CEO together with the other members of the Management Board. The group noted that its strategy relies on continuity at the top of the management board to support its transformation towards becoming a pure food wholesaler.
“Since taking office, Steffen Greubel has given Metro a clear focus on food wholesale with the sCore strategy, which is clearly showing success,” said Jürgen Steinemann, Chairman of the Supervisory Board of Metro AG.
“As a leader, he has also succeeded in inspiring the employees in the country organisations and headquarters to implement this strategy efficiently by realigning the corporate culture. The Supervisory Board fully supports this course and, with the extension of his contract, is sending a deliberate signal for continuity.”
Greubel added: “I would like to thank the Supervisory Board for its support of our multichannel wholesale strategy and for the confidence in me expressed by the extension of my contract. I am firmly convinced that Metro, as a leading food wholesaler in a fragmented market, has potential for sustainable and profitable growth. In this respect, we reaffirm our sCore targets to achieve sales of more than € 40bn and EBITDA of more than €2bn by 2030. I look forward to contributing to this as CEO together with my colleagues on the Executive Board and with all teams in the countries.”
