Metro to boost powers of CFO in overhaul - paper

Mon Jul 6, 2009 3:46am EDT
 
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FRANKFURT, July 6 (Reuters) - German retailer Metro (MEOG.DE) plans to revamp its management board to give Chief Financial Officer Thomas Unger additional responsibilities, German daily Handelsblatt reported, citing sources close to the company.

The move is designed to boost the CFO's role in an attempt to retain his services. Unger is said to have expressed doubts about fulfilling his contract, which is set to run until 2012, Handelsblatt said, citing people familiar with the company.

The revamp still needs the approval of the supervisory board, the newspaper said.

Metro declined to comment. ($1=.7133 Euro) (Reporting by Edward Taylor and Nikola Rotscheroth)

 

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