The owner of MediaMarkt with a new president. The previous one lasted 9 months

The previous president of Ceconomy was Kai-Ulrich Deissner, who took up this position only in May last year. The manager is reportedly stepping down for personal reasons. His successor will probably be Remko Rijnders, who holds the position of the company’s financial director. It is worth adding here that Deissner, before becoming president, also supervised the finances of this entity. It turns out that Rijnders was in charge of the German tycoon’s finances for less than a year.

Ceconomy is a serious player on the European consumer electronics market. The entity has over 1,000 stores under the MediaMarkt and Saturn brands. The retailer’s annual revenue was approximately €22 billion in the 2023/2024 financial year. However, the company operates in a demanding market, and the pressure is put on it not only by European players, but also by Asian giants. The company will try to use the possibilities of one of them in its development in the future. This applies in particular to logistics and technology.

Rumors about a possible takeover of Ceconomy by JD.com have been circulating in the industry for several years, but they became real in the middle of last year. The Chinese e-commerce giant then offered to pay EUR 4.6 for one Ceconomy share, which was a 23 percent premium to the then price of the company’s securities. At the same time, this allowed the entire business to be valued at EUR 2.2 billion. 57% is to go to the Chinese. shares in Ceconomy.

The German market regulator agreed to this transaction in September last year. However, consent from some institutions is still required. It is assumed that this process will be completed in the first half of 2026. Apparently already under the new president.