German retailer Metro AG has announced that Philippe Palazzi has been appointed as the new chief operating officer of Metro AG and as a member of the group's management board.
Palazzi will take his new positions with immediate effect, taking over from Pieter Boone. The retailer added that Boone is leaving the company by mutual consent.
Top Management
Palazzi, 46, has been a member of the top management circle below the management board since July 2015.
As operating partner, he has been responsible for the wholesale subsidiaries in France, Portugal and Spain as well as for global marketing and branding and the Metro own brands. He has been with the company for 20 years.
Jürgen Steinemann, chairman of the supervisory board of Metro AG, commented on his appointment, “I am very pleased that Philippe Palazzi is taking over as Metro COO. I am convinced that with his skills and remarkable execution track record, he will strongly contribute to the successful transformation of Metro.
“During his career with Metro, Philippe Palazzi has demonstrated a strong leadership and an in-depth understanding of our business. Particularly in Italy but also in further countries, he has demonstrated that he is able to realise successful repositioning with a clear earnings increase. He identifies our customers’ needs, addresses them and aligns the business accordingly.”
Departure
Boone, 50, has been a member of Metro's management board since July 2015, first as CEO of Metro Cash & Carry and, since July 2017, as COO of Metro AG.
Steinemann added, “Pieter Boone’s career stands for the diversity of our business. He strongly championed the transformation of Metro and its greater localisation.
“The Supervisory Board thanks Pieter Boone for his achievements, his sustainable impetus and his great dedication to Metro.”
Metro AG reported in February that sales grew by 0.2%, to €10.1 billion, in the first quarter of the year, with like-for-like sales up by 0.8%.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O'Sullivan. Click subscribe to sign up to ESM: European Supermarket Magazine.
