FRANKFURT (Reuters) – German retailer Metro plans to keep investing in its fast-growing Russian business despite the crisis in Ukraine, so long as threatened G7 sanctions do not influence trade flows, its chief executive told Reuters.
German Chancellor Angela Merkel has warned economic sanctions could follow Russia’s annexation of Ukraine’s Crimea region, prompting her country’s main trade body to warn of “catastrophic losses” for more than 6,000 German companies which do business with Russia.
BERLIN, March 20 (Reuters) – German discount supermarket
chain Lidl has removed Karl-Heinz Holland from his position as
chairman, citing “unbridgeable”, but undisclosed, differences
over future strategy.
In an unusually blunt statement, the secretive company said
Holland was leaving after more than five years as chairman, 12
years on the board and a total of 23 years at Lidl, but did not
say who would be replacing him.