It said the measure was taken “by mutual agreement” and with immediate effect, according to a short statementExternal link published on Tuesday.
Schröder has held a consultancy mandate with the group since 2006.
He served the German government from 1998 to 2005 and is known to be a close friend of the Russian president, Vladimir Putin.
He is also chairman of the board of Russia’s state-controlled Nord Stream and Rosneft companies.
Schröder has been criticised for colluding with the Putin regime and therefore being complicit in Russia’s invasion of Ukraine last week.
Ringier, which is based in Zurich, says it is operating in Europe, Asia and Africa and its portfolio includes about 110 subsidiaries in the print, digital media, radio, ticketing, entertainment and e-commerce sectors.
The company describes itself as “a leader among European media companies” whose “core values are independence, freedom of expression and a pioneering spirit”.
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