March 20, 2012 / 8:33 AM / 6 years ago

Metro says board member Saveuse to step down

DUESSELDORF, Germany, March 20 (Reuters) - German retailer Metro said Joel Saveuse, head of its hypermarkets business and a former contender for the chief executive role at the group, would step down on March 31.

Frenchman Saveuse, who turned 59 in February, was credited with turning around the Real hypermarkets business and was labour representatives’ preferred choice for chief executive of the Metro group after the resignation of Eckhard Cordes at the end of last year.

He stepped aside, however, to allow the group’s board to promote then financial chief Olaf Koch to the role.

Saveuse’s contract had been due to run until end-April 2013. (Reporting by Victoria Bryan)

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