Metro plans to promote its chief financial officer Thomas Unger to the role of deputy chief executive early next year, according to local reports.

Unger will be tasked with overseeing Metro’s restructuring programme “Shape 2012”, which will result in 15,000 job losses and aims to increase profits by €1.5bn (£1.3bn).

He will work with chief executive Eckhard Cordes. Olaf Koch will replace Unger. He joins the retailer from private equity firm Permira.