October 17, 2019 / 2:27 PM / a month ago

Germany’s Ceconomy ousts CEO and names interim chief

FILE PHOTO: The logo of Ceconomy AG, Europe's largest consumer electronics retailer operating the consumer electronic chains Media Markt and Saturn is pictured at the company's headquarters in Duesseldorf, Germany, August 9, 2019. REUTERS/Wolfgang Rattay

DUESSELDORF, Germany (Reuters) - The supervisory board of the struggling German consumer electronics chain Ceconomy AG (CECG.DE) ousted its chief executive officer on Thursday and named an interim leader.

CEO Joern Werner had taken over in March, but had clashed with Ferran Reverter, the head of the company’s Media Markt and Saturn store chains, about future strategy and the speed of its implementation, sources close to the company told Reuters.

The board named Bernhard Duettmann, a member of the supervisory board, to succeed Werner for the next 12 months.

Werner, who previously ran retailer Conrad Electronic, was appointed to replace managers the supervisory board had removed last October after a profit warning.

Reporting by Matthias Inverardi; writing by Tom Sims; editing by Thomas Seythal and Grant McCool

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