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METRO GROUP : ANNUAL REPORT 2011 : BUSINESS
→ RepoRt of the SupeRviSoRy BoaRd
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REPORT Of ThE
sUPERVIsORY BOARd
Franz M. Haniel
CHaIRMan oF THe sUpeRvIsoRY BoaRD
The financial year 2011 was filled with extraordinary events, including the sovereign debt crisis as well as
high unemployment and austerity programmes in many european countries. These events dealt a severe
blow to consumer confidence and subsequently posed major challenges for MeTRo GRoUp. In spite of
the difficult business conditions, Group sales remained nearly unchanged from the previous year, at
€66.7 billion. eBIT before special items amounted to €2.4 billion, just below the previous year’s level.
The focal point of the supervisory Board’s work in 2011 was the strategy related to the continued sustainable
growth of MeTRo GRoUp. The Management Board of MeTRo aG has defined clear goals for
the various business activities and regions, including, in particular, the goal to develop the Group’s
online business. The supervisory Board intensely discussed the necessary objectives for each sales
division in the Group with the Management Board and assured this Board that the supervisory Board
would completely support the implementation of the strategy.
another major issue addressed by the supervisory Board in 2011 was changes to the Management
Board of MeTRo aG. In october 2011, Mr Heiko Hutmacher joined the Management Board as Chief
Human Resources officer and labour Director. Dr eckhard Cordes left the Management Board at
the end of the reporting year. His successor as Chairman of the Management board is Mr olaf Koch.
Mr Mark Frese became the new Chief Financial officer on 1 January 2012.
The supervisory Board expresses its gratitude to Dr Cordes, the members of the Management Board
and the Group’s employees for their hard work.
Supervision of executives and cooperation with the
Management Board
In 2011, the supervisory Board also carried out the consultation and monitoring duties set forth by law
and by the Company’s articles of association. It thoroughly advised the Management Board on the management
of MeTRo aG and MeTRo GRoUp and constantly supervised the management. The supervisory
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