Germany's Metro AG says it approves departure of CEO Koch by year-end - Reuters

FILE PHOTO: Olaf Koch, CEO of German wholesaler Metro AG poses for a picture before the company's annual shareholders meeting in Duesseldorf, Germany, February 14, 2020. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - The supervisory boad of Metro AG ( B4B.DE ) on Sunday approved the decision by CEO Olaf Koch to quit the German retailer by the end of the year, the company said.

The group will start a structured process to look for a successor, it said.

Reporting by Christoph Steitz; Editing by Frances Kerry