REWE Group's supervisory board has appointed Telerik Schischmanow as its next finance chief.
Schischmanow will take over the role from Dr Christian Mielsch, after Mielsch's scheduled departure on 30 June 2022.
Schischmanow joined REWE Group in 2006 and became head of its Mergers & Acquisitions division.
Between 2009 to 2011, he served as the chief financial officer of transGourmet Holding SE, in which REWE Group held a 50% stake.
In September 2011, he returned to REWE Group as executive vice-president, in charge of corporate development, strategy and group controlling, among other responsibilities.
Since July 2016, he served as the head of retail in Germany and is responsible for administration and services.
'A Smooth Transition'
Erich Stockhausen, chairman of the supervisory board, said the appointment of Schischmanow lays "the foundations for a smooth transition on the management board of REWE Group."
"The supervisory board is convinced that this internal [appointment] guarantees stability and positive future prospects in a central Management Board portfolio," he added.
Lionel Souque, CEO of REWE Group, said, "I am very pleased that Telerik Schischmanow has been appointed as the future CFO of our company. He knows our company in every detail and has repeatedly proven his high level of competence in his many years of activity in various functions.
"As divisional director of our largest corporate organisation 'Retail Germany', he has made a decisive contribution to the success of REWE and Penny since 2016. He is thus optimally prepared for his future tasks. I would like to thank Dr Christian Mielsch very much for the excellent cooperation, which we will continue until the end of his contract in the coming year."
Before joining the management board of REWE Group, Mielsch held various positions at Metro Cash & Carry from 1997 to 2012, including as CFO of Metro Cash & Carry Germany and International and as COO of Metro Cash & Carry Central East Europe.
'Outstanding And Successful'
Commenting on his contribution to the company, Stockhausen said he has "done an outstanding and successful job" since his appointment in 2012.
Under his leadership, the company consolidated its financial position and modernised its corporate structure.
"The entire Supervisory Board and I personally are also particularly grateful for the important decisions that were made in his department in order to successfully master the enormous operational and financial challenges of the Corona crisis," Stockhausen added.
Elsewhere, REWE recently rolled out its 'Snack Mobil' kiosk concept, following a successful trial period.