April 18, 2018 / 12:08 PM / 4 months ago

Tengelmann appoints Christian Haub as sole CEO

FRANKFURT, April 18 (Reuters) - German retail group Tengelmann has appointed Christian Haub as sole chief executive, the group said on Wednesday, the younger brother of Karl-Erivan Haub, who went missing earlier this month during an off-piste skiing tour in the Alps.

Haub’s family last week said it had given up hope of finding him alive. The brothers had served as co-CEOs since 2000.

“I thank my family and our advisory committee that they continue to put their faith in me and transfer sole leadership of our family business to me,” Christian Haub, 53, said in a statement.

The brothers are the fifth generation of the family to run the business that was founded in 1867 as an importer of coffee and tea and a trader in goods from the colonies.

Their father, Erivan Haub, died last month on his ranch in Wyoming. Forbes magazine estimated his fortune at $6.4 billion. (Reporting by Christoph Steitz)

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