COLOMBIA: Retailer Exito replaces retiring CEO Lopez
Exito has appointed COO Giraldo to the role with effect from 19 March
Colombian retailer Exito, in which French retailer Casino holds a majority stake, has appointed Carlos Mario Giraldo as CEO to replace retiring Gonzalo Restrepo Lopez.
Exito said yesterday (19 February) Lopez, who has headed up the group for 22 years, is leaving to "dedicate himself to his family and to new activities related to the development of Colombia", the retailer said.
As a result, Exito has appointed COO Giraldo to the role with effect from 19 March. He has held the COO position for five years and has 18 years of consumer and retail industry experience, including 13 years at Mexican confectioner Nutresa.
The announcement comes as Exito revealed a 22% increase in full-year profit to US$858.7m for the year to the end of December. Operating profit was up 16.7% to $494.2m, while sales climbed 15.7% to $10.2bn.
French retailer Système U has entered Andorra through the acquisition of two former Casino-owned Monoprix stores....
France's competition watchdog has cleared Casino's bid to take full control of convenience chain Monoprix....
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