Stefan Magel, the chief operating officer and divisional director of Penny Germany has decided to step down and will leave the company on 30 September 2022 after his contract expires.
Magel spent 13 years with REWE Group and served as the CEO of toom Baumarkt. He joined the management board of Penny Germany in 2011 and stepped in as the divisional director/COO of Penny in 2016.
He led the discount chain’s turnaround plan and was instrumental in its continued economic growth.
Magel commented, “My big thanks go to the management board of the REWE group and all of my colleagues who accompanied and actively supported me in the challenging tasks of the turnaround at toom DIY store and Penny Germany.
“Together we have laid the foundations for lasting and sustainable economic success. They were exhausting and at the same time great years of working together. Now I am looking forward to contributing my know-how and my experience, especially in private social commitment in the area of association work and NGOs.”
Elsewhere, the retail group has named Dr Stefan Görgens as the new chief operating officer of Penny Germany.
Most recently, he served as the managing director of sales at Penny Germany since March 2021 and reported to Magel.
Görgens is an experienced professional who joined REWE Group in November 2017 after ten years at McKinsey & Company.
Initially, he served as head of Strategy & Consulting at the REWE Group, responsible for strategy development and implementation in REWE and Penny.
Between November 2018 to February 2021, Görgens served as regional manager for Penny’s operations in the western region.
Commenting on his appointment, Lionel Souque, CEO of the REWE Group, said, “I am very pleased that we were able to recruit a manager from our own ranks for the position of COO Penny Germany and thus ensure a smooth transition."
Görgens thanked the management board of the REWE Group and added, "I am really looking forward to the new responsibility and the further cooperation with my colleagues for the future successful development of Penny.”