ESSEN, Germany, June 9, 2013 /PRNewswire/ --
Karstadt owner Nicolas Berggruen and management are in harmony about the continuation of the Karstadt-strategy and agree on the long-term succession planning for the CEO. The report of Bild am Sonntag about a conflict is totally incorrect.
"This succession planning is the normal course of the business and we look forward to continuing a long-term relationship with Andrew Jennings beyond 2013 when his contract officially ends", says Nicolas Berggruen.
Andrew Jennings is committed to help finding his successor and will remain involved in Karstadt.
SOURCE Karstadt Warenhaus GmbH