Rewe has announced that it has extended the contract of its chief executive officer, Alain Caparros, by a further five years, meaning that he will now head up the group until 2016.
The German retail giant's management board said that the decision had been made based on the success of Mr Caparros since taking on the CEO role in 2006.
Heinz-Bert Zandler, chairman of the supervisory board, said Caparros had been 'outstanding' in his role, Just-Food reported.
'He has implemented the structure of Rewe consistently and efficiently, and brought our companies together with high competence, commitment and perseverance for success,' he said. 'Merchants, management and staff trust the leadership of our CEO who has set the course for the continued successful development of Rewe Group.'
