Rewe’s chief executive Alain Caparros will leave the supermarket chain in June, a year and a half before the scheduled end of his contract. The company said Mr. Caparros asked the supervisory board of the Cologne-based food retailer for his contract to be terminated amicably.
The Frenchman joined the Rewe board in 2004 and became the company’s CEO two years later. Although his contract was due to end in December 2018, there had been speculation he would step down earlier, since Lionel Souque, Rewe’s board member in charge of the German supermarkets and the digital business, was made his successor last December.
Mr. Caparros said the company had completed its big, strategic projects sooner than expected. “So the best time for me to step down as CEO, both for our company and for me, is after our shareholders’ meeting in late June,” the 60-year-old said.
Mr. Caparros made headlines by waging a two-year battle against competitor Edeka’s plans to take over Kaiser’s Tengelmann, which culminated in Rewe and Edeka dividing up the loss-making chain’s stores between them.