German pizza maker Dr. Oetker has announced that Richard Oetker, chairman of the management board, is to retire later this year.
The 66 year old great-grandson of the company's founder, Dr. August Oetker, will step down from his position on 1 November 2017, but will continue to be associated with the company as a shareholder and in various advisory boards.
Oetker will be replaced as chairman by Albert Christmann, who will also manage the group's food division.
The company is known for its food products including frozen pizzas, cake mixes, and yoghurts, but is also involved in banking and property.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.