UPDATE:Carrefour Picks Wal-Mart Executive For Key Europe Post
March 18 2010 - 3:09PM
Dow Jones News
French retail giant Carrefour SA (CA.FR) Thursday finalized its
top management structure with the appointment of Vicente Trius, a
Wal-Mart Stores Inc. (WMT) executive, as head of its European
operations outside of France.
The appointment of Trius, a Spanish national who has headed
Wal-Mart's Latin American operations since last year, fills the
last remaining position on Carrefour Chief Executive Lars
Olofsson's six-member executive board.
In just over a year since becoming CEO at the world's
second-largest retailer after U.S.-based Wal-Mart, Olofsson has
restructured the French retailer's top management as part of a
broad overhaul of the group.
Carrefour is seeking to rejuvenate business in its home market
of France and elsewhere in Europe by revamping supermarkets,
increasing its offering of company-label products and emphasizing
smaller, urban stores. Executives are still working out plans to
revive the retailer's aging hypermarkets, the large stores that
sell everything from groceries to electronic goods under one
roof.
Olofsson's executive board includes recent recruits James
McCann, a U.K. national from Tesco PLC (TSCO.LN) who heads the
French operations, and Jose Carlos Gonzalez-Hurtado, a Spanish
national and former Procter & Gamble Co. (PG) executive, as the
group's chief commercial officer.
Carrefour's previous European director, Guy Yraeta, left the
company in November last year. Directors of Carrefour's European
country operations have reported directly to Olofsson in the
interim.
Carrefour last month said it would restructure operations in
Belgium, shutting stores and freezing salaries after losing market
share to local rivals Delhaize Group (DEG) and Colruyt N.V.
(COLR.BT).
Trius will take up his position on May 3, and will manage the
company's business in Belgium, Spain, Italy, Poland, Greece, Cyprus
and Romania, Carrefour said in a statement.
Carrefour shares closed at EUR35.67 Thursday.
-By Mimosa Spencer, Dow Jones Newswires; +33 1 40 17 17 73;
mimosa.spencer@dowjones.com
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