Former German Chancellor Gerhard Schröder to help develop Globus hypermarket chain in Russia

Former German Chancellor Gerhard Schröder has joined the supervisory board of Hyperglobus, the operator of the Globus hypermarket chain in Russia. Schröder's appointment aims to utilize his extensive experience in Russia's political and economic landscape, according to Hyperglobus owner Thomas Bruch. The former chancellor's presence on the board is expected to foster a "dialogue-oriented approach" and facilitate the identification of constructive solutions amidst the current conditions.

Notably, Globus remains one of the few foreign retailers that continued operations in Russia following the onset of the war. Hyperglobus now operates 22 stores across eight regions with its own funds, under the common ownership and brand shared with the German retail chain. Recently, former Chancellor Schröder was spotted in Moscow on June 2, 2023, marking his first appearance in the city since 2022.

The visit is believed to be linked to the St. Petersburg International Economic Forum, held from June 3 to 6. Gerhard Schröder, who served as Germany's federal chancellor from 1998 to 2005, chairs the shareholders' committee of Nord Stream AG and has held senior positions with Russian energy firms. Schröder is widely regarded as a personal friend of Russian President Vladimir Putin.