The new head of Europe's largest electronics retailer, Media-Saturn Holding (MSH), Ferran Reverter, is making his restructuring plans for the last-profit company more concrete. According to information from the manager magazin, the Spaniard plans, among other things, to separate from about 700 of the more than 3000 employees in the headquarters in Ingolstadt. MSH called the number opposite the magazine as speculation.
Click here for the report of the Manager Magazin (Abo): The Radical MSH Plans
Furthermore, Reverter - who has led MSH since October - plans to significantly change the business model. Following the example of the US chain Best Buy, there will be more promotional prizes in the offer of the labels Media Markt and Saturn. For this, the duration range is to be reduced. In the future, for example, it will no longer be necessary to have 30 washing machines or coffee machines. In addition, Reverter plans to divest the retail space to brand owners such as Apple, Samsung or Huawei to a greater extent than before, who do business with their own staff on their own account. MSH thus has fixed revenues and lower storage costs. In addition, the risk of buying too much or too little goods is reduced.
The main shareholder of MSH is listed Ceconomy with a 78 percent stake. Her share price had recently suffered badly from the earnings weakness of Media-Saturn Holding.