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BERLIN (AP) — German retail group Tengelmann has named Christian Haub as its sole CEO after his brother went missing during a skiing trip in the Swiss Alps.
Haub and his elder brother, Karl-Erivan, had run Tengelmann together since 2000. Its main businesses are hardware store Obi and clothing retailer KiK. It also has large stakes in the Netto supermarket chain and online retailer Zalando.
Karl-Erivan Haub went missing above the Swiss resort of Zermatt on April 7. His family said Friday there was no longer any chance of finding him alive.
Tengelmann said Wednesday that 53-year-old Christian Haub is taking sole leadership with immediate effect. Haub said in a statement that his brother's loss "is a tragedy for our family, but it does not threaten the continued existence of our family company."
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