Despite a booming online business, MediaMarkt and Saturn are currently suffering from the consequences of the Corona crisis.
At Europe's largest electronics retail chain, MediaMarktSaturn, the previous boss Ferran Reverter throws in the towel. The Spanish manager does not want an extension of his contract, which expires in October, said the parent company of Media Markt and Saturn, Ceconomy, on Sunday. Now, with the approval of the Board of Management and the Supervisory Board, he will go on June 30.
For Ceconomy supervisory board chairman Thomas Dannenfeldt, the personnel also offers an opportunity – because the Düsseldorf holding company wants to completely take over the electronics retail chains. Then there should be a uniform and therefore simpler management structure.
Ferran Reverter had initially made a career at Media Markt and Saturn in his Spanish homeland and was appointed to head the electronics retail chains in October 2018. At the head office in Ingolstadt, he had advanced digitization and simplified the structures in purchasing and logistics. Insiders had also said he had ambitions for the chief position at Ceconomy. At the head of the Düsseldorf Holding is the former Beiersdorf manager Bernhard Düttmann as interim boss. His contract ends in October. Dannenfeldt now has to find a personnel solution for the dealer's new structure.
Because Ceconomy swallows MediaMarktSaturn completely, the general meeting of the Düsseldorf Holding had only approved the transaction in February. In return, the previous minority owner of the electronics retail chain, the pugnacious Kellerhals family, joins Ceconomy directly and becomes the largest single shareholder with over 25 percent. The transaction should also eliminate duplicate structures between Ingolstadt and Düsseldorf.
Despite a booming online business, MediaMarkt and Saturn are currently suffering from the consequences of the Corona crisis. Numerous branches had to temporarily close their doors. As the largest electronics retail chain in Europe, Media Markt and Saturn operate more than 1000 stores with over 47,000 employees, 420 of them in Germany.
