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Olaf Koch

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Not to be confused with Olaf Koch (conductor).
Olaf Koch
Koch at the Metro AG annual press conference in Düsseldorf, December 2019
Koch at the Metro AG annual press conference in Düsseldorf, December 2019
Born (1970-06-01) June 1, 1970 (age 54)
Bad Soden am Taunus, Germany
NationalityGerman
EducationBaden-Wuerttemberg Cooperative State University Stuttgart
Occupation(s)Chief Executive Officer, Metro AG

Olaf Koch (born 1970) is a German business executive. He is a member of the supervisory board of Daimler AG and founder of the venture capital firm Zintinus. From 2012 to 2020 he was CEO of Metro AG.[1][2][3][4]

Early life and education

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Olaf Koch was born on June 1, 1970[5] in Bad Soden am Taunus, close to Frankfurt. His father was in sales at former Hoechst AG and the family moved several times during Koch’s childhood. He therefore also grew up in Barcelona and Stuttgart. After his Abitur in Stuttgart, he studied business administration at the Baden-Wuerttemberg Cooperative State University Stuttgart.[6]

Initial career

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Koch began his career in 1994 as manager at Daimler-Benz AG’s department “Finance Process and Systems”. He founded his own IT company in January 1996 and published several books in the field of IT. In 1998, he returned to the Daimler Group (then DaimlerChrysler AG).[6] In 1999, he took over as director of the e-commerce division.[7] He subsequently held various positions within Daimler and became CFO of the Mercedes Car Group in October 2002.[8] In 2007, he went to private equity firm Permira as managing director.[9] As part of his role at Permira, he was a supervisory board member of Hugo Boss.[6]

Metro

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Koch came to Metro in September 2009 as CFO.[10] As of 1 January 2012, he took over as CEO of the company.[11] His contract was extended in 2014[12] and again in 2017.[13] On 21 August 2020 Olaf Koch announced to step down as CEO of Metro AG as of 31 December 2020.[14]

As CEO, Olaf Koch began to transition Metro from a broad-based conglomerate to a pure wholesale company.[15] Among other things, he sold the Galeria Kaufhof department store chain (2015) and separated the group into two companies in 2017, Metro AG (wholesale and Real (hypermarket)), and Ceconomy AG (consumer electronics retail with MediaMarkt and Saturn).[16][17]

In September 2018, Koch announced plans to sell Real hypermarket. This marked the final stage in the aforementioned dismantling of the conglomerate structure, to form a purely wholesale company.[18] In May 2019, he announced negotiations had begun with redos real estate GmbH for the Real sale.[19] In June 2020, Real was sold to a consortium of X-Bricks and SCP Group.[20]

Zintinus and Daimler

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In spring 2021, Koch and three partners founded the venture capital firm Zintinus.[4] The investment fund supports start-ups from the food industry with capital but also with networking and expertise. In October 2021, Koch was also elected to the supervisory board of Daimler AG.[3]

Personal life

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Olaf Koch is married and has 3 children.[21]

References

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  1. ^ "Metro verliert ihren Vorstandschef Olaf Koch". WirtschaftsWoche. 2020-08-21. Retrieved 2021-06-07.
  2. ^ Storbeck, Olaf (2019-06-23). "Metro rejects takeover offer from Czech billionaire". Financial Times. Retrieved 2020-01-14.
  3. ^ a b Verkaufen, Werben & (2021-10-01). "Daimler AG wird zu Mercedes-Benz Group AG | W&V". www.wuv.de (in German). Retrieved 2022-11-17.
  4. ^ a b "Start-up-Finanzierung: Ex-Metro-Chef Olaf Koch gründet Investmentfonds für Food-Techs". www.handelsblatt.com (in German). Retrieved 2022-11-17.
  5. ^ Bröcker, Michael; Winters, Georg (2017-04-01). "Digitalisierung ist unser Kerngeschäft". Rheinische Post. Retrieved 2020-06-23.
  6. ^ a b c Jensen, Sören (2012-08-24). "Ehrliche Haut". Manager Magazin. Retrieved 2020-06-23.
  7. ^ Breitkopf, Thorsten (2013-03-30). ""Die Metro will zurück in den Dax"". Rheinische Post. Retrieved 2020-01-14.
  8. ^ Koch, Brigitte. "Zum Ausruhen keine Zeit". Frankfurter Allgemeine Zeitung. Retrieved 2020-06-23.
  9. ^ Ludowig, Kirsten (2012-01-17). "Der neue Metro-Chef setzt eine Duftmarke". Handelsblatt. Retrieved 2020-06-23.
  10. ^ "Metros neuer Chef startet mit schwerer Hypothek". Handelsblatt. 2011-11-18. Retrieved 2020-01-14.
  11. ^ Weber, Stefan (2011-11-18). "Olaf Koch wird neuer Vorstand". Süddeutsche Zeitung. Retrieved 2020-06-23.
  12. ^ "Koch bleibt bis 2018 Metro-Chef". Handelsblatt. 2014-09-24. Retrieved 2020-01-14.
  13. ^ "Handelskonzern feilt an der Aufspaltung". Handelsblatt. 2017-03-31. Retrieved 2020-01-14.
  14. ^ "Metro-Chef Olaf Koch will zum Jahresende gehen". Die Welt. 2020-08-21. Retrieved 2020-10-12.
  15. ^ Hielscher, Henryk. "Metro-Chef Koch: "Das ist das Ende des Konglomerats"". Wirtschafts Woche. Retrieved 28 October 2021.
  16. ^ Inverardi, Matthias (12 July 2017). "Metro businesses set sights on acquisitions after demerger". Reuters. Retrieved 28 October 2021.
  17. ^ "German Metro sells Kaufhof to Hudson's Bay for $3.1B". CNBC. 15 June 2015. Retrieved 28 October 2021.
  18. ^ "Metro to sell Real hypermarkets to focus on wholesale". Reuters. 13 September 2018. Retrieved 28 October 2021.
  19. ^ Storbeck, Olaf (8 May 2019). "German retailer Metro begins exclusive talks over sale of Real". Financial Times. Retrieved 28 October 2021.
  20. ^ Kläsgen, Michael (25 June 2020). "Real wird zerschlagen". Süddeutsche Zeitung.
  21. ^ Seidel, Hagen (2012-03-18). "Vita: Olaf Koch". Die Welt. Retrieved 2020-01-14.
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