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Corporate Governance
Metro International S.A. is a Luxembourg limited-liability company
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BOARD MEMBER RESIGNS
13 January 2005
Mr. Albrecht stated: "In light of the recent allegations against Metro and in the company's best interest, I have decided to submit my resignation from the board of directors. I accept responsibility for my unfortunate statement and its unintended consequences."
Vigo Carlund, Chairman of the Board of Directors, commented: "The Board accepts Hans-Holger's resignation and understands and respects his decision."
"The Board of Directors of Metro would like to thank Hans-Holger for his invaluable insights and contributions to the success of Metro over the last couple of years. With his unique international media background and experience working across all European markets, he was instrumental in building Metro's ambitious expansion strategy", Mr. Carlund continued.
In a meeting of the Board of Directors yesterday, a sub-committee of the board was formed to supervise the implementation of all current and future policies on diversity as well as the ongoing corporate social responsibility program. The board also reiterated the importance of upholding its zero tolerance policy.
The Board further resolved to appoint Mr. Robert Powers as Global Director of Human Resources, the first American to hold that post. Mr. Powers has held various senior executive positions in a number of leading US companies.
For further information, please visit www.metro.lu, email info@metro.lu or contact:
Vigo Carlund, Chairman