Penny Market gets new chief and financial officers for Romania

Two expats have joined the Penny Market management board. Frank Wagner is the company's new general manager for Romania, replacing Marcel Thiele, who had been running the company for the last four years. Frank Wagner was promoted from the Chief Operational Officer position. Penny Market also got a new Chief Financial Officer. Edward Roth will be holding this position, also replacing Thiele, who had been covering it on an interim basis. Discounter Penny Market runs 110 stores in Romania and reported EUR 368 million in turnover last year. Penny Market is owned by Rewe, which also owns the Billa and the Selgros Cash & Carry retailers in Romania. editor@romania-insider.com