Makro has announced that a new managing director will be taking over from October 1.
Juergen Schwarze, currently corporate head of internal audit at Makro’s parent company Metro Group, has previously worked as a transaction, consultancy and restructuring specialist for PriceWaterhouseCoopers and Ernst amp; Young, and Metro said his appointment underlined the intention of the German wholesale company to turn around the UK business.
Last month four out of Makro’s five board members were replaced by consultants from AlixPartners, and Metro said all of them, including Klaus Raettig who was appointed managing director, will remain as members of the board to support the restructuring and turn-around process.
Schwarze said: “I am grateful and very much looking forward to getting into this important position and to working together with all the colleagues in the UK on the turnaround of our business.
“We all know that we have a very challenging job ahead, but I am absolutely confident that there is a lot of potential and many options as long as we fully focus on the needs of our customers.”