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Michael Schmidt-Ruthenbeck
Michael Schmidt-Ruthenbeck (born 1942) is a German billionaire businessman, together with his brother Rainer, owner of 16% of the retail group Metro AG. Early life He is the son of Wilhelm Schmidt-Ruthenbeck and Vera Ruthenbeck. His brother is Rainer Schmidt-Ruthenbeck and his sister is Viola Schmidt-Ruthenbeck. Career In the 1990s his family founded the Stiftung Mercator, the Mercator Schweiz and the Karl Schmidt Family Foundation. In February 2006 Michael ousted Reiner from the managing director position at Metro AG. Sometime in 2006 (likely September) the family holding company sold its share of Metro AG from 18.54% to 13.15%. In August 2007 Otto Beisheim was the victim of a boardroom coup when the Haniel family interest acquired more capital than they had already in Metro AG; together with the Schmidt-Ruthenbeck family holding they held a majority share and Beisheim was frozen out of control. Schmidt-Ruthenbeck and Metro AG were investigated by the Competition Bur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metro AG
Metro AG is a German multinational company based in Düsseldorf which operates business membership only cash and carry stores primarily under the Metro brand. Until 2020 it was also active in general retail business through Real division, which was sold to an investor consortium. Unlike American warehouse clubs such as Costco or Sam's Club, it is not possible for private customers to acquire a membership for most Metro locations. As of 2020 it operates around 680 stores in 24 countries in Europe and Asia. The company was established in 1964 by Ernst Schmidt and Wilhelm Schmidt-Ruthenbeck. In 2010, it was the fourth-largest retailer in the world measured by revenues, after Wal-Mart, Carrefour and Tesco. Its current incarnation was launched in 2017 as a spun-off of old Metro AG, which continued to be a consumer electronics retailer and renamed itself Ceconomy. History The history of the Metro began on 8 November 1963 in Essen with the opening of the first wholesale center u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
