Putin now also takes control of Metro Russia

After the Russian Federation had previously seized the local operations of Nestlé, Auchan, and Leroy Merlin, Metro Russia is now also being placed under receivership. As a result, Metro AG no longer has operational control over its subsidiary.

CEO takes the reins

On Monday, the Russian Federation assumed control of Metro Russia’s assets via a presidential decree. The German foodservice company confirmed this in a press release. As a result of this measure, Metro AG no longer has operational control over its Russian subsidiary, although it remains the formal owner. The Russian government has transferred operational management to “UK Torg RUS,” a company owned by Johannes Tholey, the CEO of Metro Russia.