Vandevelde takes over in Carrefour shake-up
Former M&S boss at helm
Luc Vandevelde, former chairman of Marks & Spencer is to become president of French retail group Carrefour.
The world’s second biggest retailer is changing its management structure, setting up a separate supervisory board as a control body, as well as a management board in charge of day-today running of Carrefour’s group’s operations.
Former president Daniel Bernard has resigned in favour of Vandevelde, with finance director Jose Luis Duran becoming president of the management board.
Vandevelde was appointed to the Carrefour board last year as a representative of major shareholder the Halley family, which holds a 13 per cent stake and 19.2 per cent of voting rights.
Bernard’s departure afer 13 years follow concerns raised by shareholders about sliding sales and loss of market share in France to rivals such as E Leclerc.
[img r]carrefour2.jpg[/img]Vandevelde said: “This mode of governance seems more adapted to the challenges that face the Group today.” He added: “The operating teams will benefit from the trust and support of the supervisory board that will ensure that conditions are met that will enable the full development of the potential of the company and of its people.”
Duran said the management board team will “build a stronger group, mobilize the men and women of the company in order to build a new momentum and accelerate the company’s growth.”
