Moving forwards independently with a clear profile
Following the dawn of the new millennium, Metro Group increasingly focused on further developing individual business models and ramping up e-commerce. Previously comprising 16 sales lines, the portfolio underwent a major focusing process. Following the sale of Galeria Kaufhof in 2015, Metro Group consisted of just three sales lines: Metro Cash & Carry, Real and Media-Saturn. The next logical step to enhance growth, customer focus and entrepreneurialism followed on 31 March 2016, when Metro AG announced its plans to split the group into two independent, publicly quoted market leaders, each with a clear profile. It therefore proposed pooling the wholesale and food business within the newly established Metro and grouping the consumer electronics activities together within CECONOMY. The aim was to give both companies better growth prospects by enabling them to concentrate on their respective industries and customer segments – with a stronger focus, faster decision-making processes, greater flexibility and improved operational efficiency.
Once the analysis phase had successfully been completed, the planned split increasingly took shape: on 5 September 2016, the Management Board of Metro AG resolved to initiate the preparatory measures necessary for the Metro Group demerger. The Supervisory Board agreed to the plans. On 30 September 2016, the company was split pro forma into two separate organisational units. With this, the new CECONOMY management team headed up by designated CEO Pieter Haas also started work.
On 15 December 2016, the two companies unveiled their future strategies as independent firms to investors. The name CECONOMY and the associated brand positioning were also presented to the public for the first time at the Metro Group Capital Markets Day.