Olaf Koch, the head of German retail group Metro, has actually done everything right.
He has been rebuilding the company for years, has invested in startups and sold subsidiary Kaufhof for a surprisingly high price. The group will soon be split up, which should awaken further growth aspirations. Metro’s share price has increased by about 15 percent since the beginning of the year.
But despite all that, he was unable to stop a major shift in the retail business. As of this week, Metro has been replaced by Zalando as the most valuable retail group in Germany.