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News:

October 18, 2019


The previous Supervisory Board member Dr. Bernhard Düttmann (right) succeeds Jörn Werner, who is leaving the company after only seven and a half months as CEO of Ceconomy.

Ceconomy separates from CEO Jörn Werner

At an extraordinary meeting on the evening of October 17, the Supervisory Board of Ceconomy AG, the parent company of the German consumer technology retailing group, MediaMarktSaturn, and Jörn Werner, CEO of the company, agreed on an immediate separation. At the same time, Dr. Bernhard Düttmann, Member of the Supervisory Board, was appointed CEO of Ceconomy for a term of twelve months. Düttmann will be responsible for personnel and the Group's strategy. A Transformation Committee, which consists of the active members of the Ceconomy Board, Düttmann and Karin Sonnenmoser (CFO) as well as the management of MediaMarktSaturn, will ensure cooperation in the implementation of the strategy.


"We would like to thank Mr. Werner for his commitment and the work he has done," commented Jürgen Fitschen, Chairman of the Supervisory Board. "He played an active role in the strategic development of Ceconomy. With regard to managing the company, however, there are different views between him and the Supervisory Board, so that the separation is a logical step.“ After serving as CEO of the German car service chain A.T.U. from 2015 to May 2018 and as Chairman of the Supervisory Board of the company thereafter, Werner had joined Ceconomy as CEO on March 1, 2019. Ceconomy said that under the leadership of Düttmann, it will continue its ongoing strategy development process, whose results will be presented as planned at the end of this year or the beginning of 2020. After completion of the last business month in financial year 2018/19, there was no indication the company will not reach its outlook, Ceconomy added in a press release.

Düttmann was already an interim member of the Management Board of Ceconomy from January to March 2019. “During this time, he worked extensively with the entities of the group and won the trust of the employees at Ceconomy and MediaMarktSaturn“, said Fitschen. "Together with the management team at MediaMarktSaturn, he set the course for the successful ongoing reorganization and efficiency program. During his time, he also supported the detailing of the first repositioning initiatives. "

In a statement on his new assignment, Düttmann emphasized that he was looking forward to the task and the opportunities to further strengthen the cooperation between the two companies and successfully conclude the strategy process with the management of MediaMarktSaturn.

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