Brazilian investor Abilio Diniz announced his intention to stand down as chairman of CBD earlier this month

Brazilian investor Abilio Diniz announced his intention to stand down as chairman of CBD earlier this month

Jean-Charles Nouri, chief executive of Casino, looks set to become chairman of CBD, the Brazilian retailer that the French grocer controls.

In statement yesterday (23 September), Casino-controlled CBD said it will vote on Naouri's election on 9 October at an extraordinary general meeting.

In addition, Casino has proposed the creation of another position, vice chairman of the board of directors, to which the group intends to appoint Ronaldo Iabrudi. He is a member of the board of directors of CBD and the director and representative of Casino in Brazil.

Brazilian investor Abilio Diniz announced his intention to stand down as chairman of CBD earlier this month, bringing to an end disputes between the two over the business his family founded.

French retailer Casino, which took a controlling stake in CBD last year, had been pushing to oust Diniz since he took the role of chairman at Brazilian food manufacturer BRF this spring. Casino said Diniz had refused to resign as chairman of the board at CBD, also known by its trading name of Grupo Pao de Acucar, despite what the French company called "the clear and permanent conflict" of serving in both roles. Casino had sought arbitration over the spat.

The row was the latest between Diniz and Casino, which fell out in 2011 over the ownership of CBD.