Sunday, February 21, 2016

Caesura at Metro – major shareholder Haniel’s top job from – Reuters Germany

Dusseldorf era when trading giant Metro: The Duisburg Family Holding Haniel acknowledges the Chairmanship ,

Your representative Franz Markus Haniel took at the meeting on Friday in Dusseldorf farewell to the shareholders. “The house Haniel and Metro are closely associated for over 50 years – this should remain so,” he assured. Successor Haniels to be an independent of the major shareholders candidate, the ex-chief of the world’s biggest chocolate and cocoa manufacturer Barry Callebaut, Juergen Steinemann. Retail investors expressed the hope that Steinemann “will sweeten a little ‘them to the Group. They suffered in recent years from a massive price decline. Metro CEO Olaf Koch tried hope to make that the losing streak is terminated: The Group had completed its consolidation and wanted to invest in acquisitions

Haniel has the fate of Metro. decisively determined. However, the Holding will become more independent from trading. Franz Markus Haniel had since April 2012 chairman of the board, he had held the post already 2007-2010. He wanted to “open up the possibility that the Chairmanship passes into the hands of an independent, external representative” With his withdrawal. Haniel intends to reduce its share of well over 30 percent gradually by 2020 to around 20 percent. Besides Haniel are the families Schmidt-Ruthenbeck and Beisheim major shareholders in Metro – keep them well 15 and just over nine percent of the voting rights.

Metro had Haniel not always done in the past joy. Metro rose 2012 from from the Dax, Haniel had time to report a net loss of approximately EUR 1.9 billion, the lion’s share came from depreciation of the Metro investment. Since early 2011, the price of Metro shares have more than halved – from 50 euro to below 25 euros.

COMING AR-CHEF BUY LIKE ON

the Supervisory wanted Steinemann choose after the general meeting at its head. The manager know the industry, Haniel said. “I like to buy one,” Steinemann said to the shareholders. He knew from in Metro Reich. he had bought an electric toothbrush at Media-Saturn about for 59.99 euros last week, reported the 57-year-old.

Steinemann should make the Metro shareholders the company tasty, called DSW representative Jella Benner-Heinacher. The course for this are that: “We have again to breathe, we are not a restructuring case anymore,” she said

Cook had cleaned up in recent years and the net. indebtedness reduced by around five billion euros – including through the sale of the department store Kaufhof daughter. Now he wants to invest in acquisitions

shareholder representatives hope for rising profits and share prices -. And the return in the Dax. Then the remuneration models of the Board are adequately reflected.

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