Gerhard Schröder joins supervisory board of Russian-operated Globus

Former German Chancellor Gerhard Schröder has joined the supervisory board of Hyperglobus, the Russian operator of the German hypermarket chain Globus. In this role, Schröder will be responsible for overseeing the strategic development of the retailer within Russia.

The appointment has drawn intense criticism from German political and economic circles. Roderich Kiesewetter, a member of the Bundestag and foreign policy expert for the CDU, described the move as a “betrayal of Europe and one's own country.” Political scientist Thomas Jäger characterized the position as a new lobbying assignment in Russia, while economist Jan Schnellenbach criticized the former leader's audacity.

Globus Gruppe spokesperson Isabel del Alcazar von Buchwald stated that the Russian division will become legally and organizationally independent from the German parent company on January 1, 2025, though ownership will remain with German shareholders. Analysts, including Janis Kluge of the Berlin Institute for Science and Policy, suggested the appointment may serve as a mechanism for Hyperglobus to protect its assets from potential state seizure by leveraging Schröder's long-standing connections to Vladimir Putin.