Germany's Ceconomy Appoints New Temporary CEO
October 18 2019 - 12:48AM
Dow Jones News
By Pietro Lombardi and Kim Richters
Germany's Ceconomy AG (CEC.XE) said late Thursday that its
supervisory board has appointed a new chief executive after the
board and current CEO Joern Werner "decided by mutual agreement" to
part ways immediately.
Mr. Werner had only been serving as CEO since March. He is
replaced by Supervisory Board Member Bernhard Duettmann, whose
appointment is for 12 months.
Chairman Juergen Fitschen thanked the outgoing CEO. "With regard
to managing the company, however, there are different views between
him and the Supervisory Board, so that the separation is a logical
step," he said.
The management board of the company now consists of the new CEO
and Chief Financial Officer Karin Sonnenmoser.
The retailer, known for its electronic retail brands and stores
MediaMarkt and Saturn, said "there is no indication" that it will
miss its outlook.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com and Kim
Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 18, 2019 01:33 ET (05:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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