INGOLSTADT, Germany Aug 14 The acting chief
executive of Europe's biggest electronics chain Media-Saturn can
stay in his job, a German court ruled on Thursday, a victory for
majority owner retailer Metro in a long-running battle
with the chain's founder.
Erich Kellerhals, founder and minority owner of
Media-Saturn, challenged the appointment of acting CEO Pieter
Haas, accusing him of unilaterally representing Metro's
interests and of not having a future strategy for the chain.
Metro has been fighting for control for years with
Kellerhals, who still owns a 22 percent stake and who said in
May he wanted to buy back the business.
Judge Konrad Kliegl of the Ingolstadt district court said
that according to the shareholder agreement, Metro had the right
to appoint a managing director and therefore also the authority
to appoint a person that the other shareholder did not find
acceptable. He added Kellerhals did not have the right to
prohibit Haas from doing his job.
Haas was appointed by Metro in May after the previous CEO,
Horst Norberg, quit due to the dispute with Kellerhals.
(Reporting by Irene Preisinger; Writing by Kirsti Knolle,
editing by David Evans)