Metro will right kind Russia state of affairs quickly: CEO

Metro will correct Russia situation soon: CEO

FRANKFURT (Reuters) - The chief executive of Metro (B4B.DE) is hopeful that the German retailer will turn around its struggling Russian business soon, he said on Monday.

FILE PHOTO: German retailer Metro AG CEO Olaf Koch attends the press conference at the company´s headquarters in Duesseldorf, Germany March 02, 2018. REUTERS/Thilo Schmuelgen

“I am very optimistic we will correct that situation in the near future,” Olaf Koch told an event in Berlin to promote Metro’s cooperation with start-ups, describing the problems in Russia as “a bit of a hiccup”.

Metro said last month it hopes to stabilize its shrinking Russian business in the coming months after overhauling management and introducing bulk discounts to attract more independent traders and restaurant owners.

Reporting by Emma Thomasson; Editing by Maria Sheahan

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July 17, 2018