Media-Saturn CEO contract to expire at the end of 2012

Media-Saturn's CEO Horst Norberg's contract will expire at the end of this year, Lebensmittel Zeitung reports. It is still unclear whether or not the contract will be extended. Norberg replaced former CEO Roland Weise in January 2011, who was sacked following pressure from majority shareholder Metro Group in the wake of disputes over Media-Saturn’s online strategy and speed of internationalisation.

The company has provisionally appointed Georg Mehring-Schlegel as its new Chief Financial Officer, replacing Rolf Hagemann who left the company at his own request. Schlegel is in charge of the strategic development of Media-Saturn.