New leaders for loss-making Makro as bosses ousted
FOUR directors at Makro, including managing director Hannes Floto, have been axed after a clash over strategy.
Makro said changes had been made to “accelerate its restructuring and turnaround efforts”.
As well as Hannes Floto, other directors leaving the business are Patrick Legro, Mark Copeland and Stefan Hesse.
Makro said: “Due to differing views on the strategic direction of the company, the managing director and the responsible board members for customer management, finance and operations have left the company on amicable terms, based on mutual agreement.”
The company has appointed four executives from international turnaround firm AlixPartners to run the business. They are: Klaus Raettig (managing director), Jens Koeppen (finance), Dan Murphy (assortment and stock management) and Martin Schumacher (operations).
AlixPartners has been advising Makro on its turnaround for some time, and the four new directors are said to “understand the challenges the company faces”.
Huw Edwards, who joined the business from Asda last year, is remaining in his role and is taking on additional responsibilities as commercial director for offer, merchandizing and marketing.
HR director Caroline Hutchins has also left..
Most recent accounts for the company which has its headquarters in Eccles, showed losses of £44.7m on sales of £867.8m in 2009.
Part of Metro Group, one of the largest retailers in the world with sales in 2010 of €67bn, Makro has 30 wholesale stores around the country and employs around 3,700 people.
