FYI PARIS -- In a move anticipated for some weeks, the board of Carrefour SA has maneuvered Daniel Bernard into resigning as chairman and chief executive officer of the world's second-largest retailer. Taking over as chief executive officer is Juan-Luis Duran, who had been chief financial officer and previously had engineered the turnaround of Carrefour's Spanish operations. Luc Vandevelde, former chief executive officer of Marks and Spencer PLC and, before that, of Promodes SA, which Carrefour acquired in 1999, took the position of nonexecutive chairman. Bernard, who had led ...
Shake up at Carrefour with chairman out By ELAINE GANLEY AP PARIS (AP) - The chairman of Carrefour SA, the world's second-largest retailer, resigned Wednesday in a shake up as two new investors moved in with a nearly 10 percent stake in the company. Luc Vandevelde was replaced by Robert Halley of the Halley family, Carrefour's largest shareholder, the company said in a statement. Vandevelde had been under pressure from the Halley family - which has a 13 percent stake and controls 20 percent of voting rights - since breaking with its investment group last month. The resignation was announced after two shareholders bought into Carrefour. Colony Capital and Groupe Arnault - French billionaire Bernard Arnault's investment vehicle - said they had taken 9.8 percent of Carrefour. Colony Capital is a U.S. private equity fund known for its role in the recovery of hotel group Accor. Carrefour's 2006 earnings report will be published Thursday. In January, Carrefour reported a 5.1 percent rise in revenue for 2006 to euro87.4 billion (US$113.5 billion), from euro83.7 billion a year earlier, results that reflects tough competition for the French retail giant in key Western European markets. The departure of Vandevelde, a Belgian, was "guided by the interest of Carrefour, its shareholders and its collaborators," the statement said. Last month, Vandevelde broke with Carrefour's founding Halley family - two years after his arrival in a boardroom coup that ousted long-standing Chairman Daniel Bernard and set up a two-tiered management structure. Carrefour CEO Jose-Luis Duran remains in place. He was appointed two years ago in the shake up. Carrefour worked to show the departure of Vandevelde and the arrival of new investors would not impact strategy. The surveillance board, which Vandevelde headed, "unanimously confirmed its confidence" in Duran "to pursue the strategy followed over the last two years," the statement said. In their own statement, Colony Capital and Groupe Arnault said their arrival at Carrefour was "a long-term strategic and industrial investment." "Colony Capital and Groupe Arnault consider that Carrefour, a world leader in its sector, has strong growth potential," it said, adding that they would work with the Halley family. The two shareholders have created a 50-50 joint venture company to hold their 9.1 percent stake, and a third party, private equity firm Axon Capital, has allied its 0.7 percent stake to theirs. In France, Colony is known for its role in the transformation of the Accor hotel group. Colony invested euro1 billion in Accor in early 2005 and participated in a management reshuffle and a refocus on core brands. Accor shares have doubled in value over the past two years. Carrefour is the world's second largest retailer after Wal-Mart Stores Inc. However, severe pricing competition in its home market - nearly half of the company's revenue - has continued to eat away at profits. There had been speculation about a possible Vandevelde departure since his February break with the Halley family's investment group. At the time, both Carrefour and the Halley family said he would remain chairman of Carrefour's board. Carrefour shares rose 1.7 percent to euro54.80 (US$71.79) at midday in Paris before falling 2 percent to close at euro52.80 (US$69.17). Copyright 2007 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL. 03/07/07 16:47 EST salam, sensei deddy mansyur university of houston www.uh.edu/shotokan www.houstonshotokan.com ----- Original Message ----- From: "cathlea" <[EMAIL PROTECTED]> To: <[email protected]> Sent: Thursday, March 15, 2007 10:33 PM Subject: [Forum-Pembaca-KOMPAS] Re: Carre4 tak gubris Dep. Perdagangan was Kemelut Ritel Vs Pemasok > Jika tidak salah Carre4 itu dikantor pusat yang di Perancis sedang > mengalami masalah besar karena terlilit hutang (jika tidak salah dengar) > dan CEO nya mengundurkan diri dan diganti dengan salah seorang > komisaris/pemegang saham. Saya juga lupa nama CEO yang mengundurkan diri > dan nama CEO yang barunya.
