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Ceconomy Chief Haas Leaves After Consecutive Profit Warnings

  • CFO will also step down, for now assumes part of CEO duties
  • Share price has plunged since split from former parent
Pieter Haas
Pieter HaasPhotographer: Chris Ratcliffe/Bloomberg
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Ceconomy AG Chief Executive Officer Pieter Haas stepped down, following investor fury at back-to-back profit warnings from Europe’s biggest consumer-electronics retailer.

Chief Financial Officer Mark Frese, who will lead the company on an interim basis together with management board member Dieter Haag Molkenteller, will also depart after a successor has been identified. Haas and the supervisory board “mutually agreed to separate with immediate effect,” Ceconomy said in a statement after a board meeting.