METRO AG Supervisory Board extends contract of CEO Dr Steffen Greubel by 5 years at an early stage

19 June 2023

The Supervisory Board of METRO AG has extended the contract of CEO Dr Steffen Greubel for another 5 years at an early stage. This means that Dr Steffen Greubel has been appointed CEO until 30 April 2029

Dr Steffen Greubel, Chairman of the Management Board

With this decision, the Supervisory Board confirms the long-term strategic orientation of the company, which was developed by the CEO together with the other members of the Management Board, and relies on continuity at the top of the Management Board in the transformation towards 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. 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", explains Jürgen Steinemann, Chairman of the Supervisory Board of METRO AG.

Dr. Steffen Greubel adds: "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 € 40 billion and EBITDA of more than € 2 billion 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."

Dr Steffen Greubel has been Chairman of the Management Board of METRO AG (CEO) since 1 May 2021.