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Carrefour turnaround to take 3 years
France
Thursday 21 June 2012
MD
The new CEO considered the results of his predecessor as disastrous and says it will take 3 years for the group to recover.
The new CEO of Carrefour, Georges Plassat, considered the results of his predecessor as disastrous.
Before the Annual General Meeting, Georges Plassat asked three years to address the group by rethinking strategy and "returning to simple principles". He aims to reduce cost structures and refocus on food products.
The Carrefour Planet project is
permanently shelved and the change of Shopi and Champion stores to Carrefour Market and Carrefour Express is not conclusive as Carrefour can not have a single price policy for all its stores. Present in 33 countries, the company is reconsidering its locations. After leaving Greece, it could withdraw from Turkey and Indonesia.
source : 20 minutes, la tribune, zone bourse
