Business: DIY store company Obi surprisingly loses its CEO
Supervisory board chairman Christian Haub praises him - and yet immediately releases him: In the middle of an important expansion phase, Sebastian Gundel has announced his departure.
Düsseldorf - Baumarktunternehmen Obi has unexpectedly lost its CEO, Sebastian Gundel, sending shockwaves through the company. In a statement, Obi announced that they have parted ways "in mutual agreement" with Gundel. No successor has been confirmed yet. Until a new leader is appointed, Miguel Müllenbach, the CFO, and Jochen Ludwig, the COO, are stepping in to manage the day-to-day operations of the retail giant.
Christian Haub, the Chairman of the Supervisory Board and owner of the Tengelmann Group, which holds a majority stake in Obi, praised Gundel for his "energy and clear strategic vision" in driving significant changes for the company. Haub lauded Gundel's role in integrating the company's physical and digital businesses. However, despite the praise, Gundel must leave his position immediately. Industry insiders suggest that the abrupt departure could be due to Gundel potentially becoming a direct competitor in the future.
Despite the shock, Haub remains optimistic, stating that the strategic direction of Obi remains unchanged. He assured that Obi has a "strong foundation, a clear direction, and a proven management team." However, the CEO's sudden exit comes at a critical juncture for the market leader in the home improvement retail sector. The company is not only expanding rapidly but also undergoing significant strategic transformations.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
