French retail giant Carrefour has confirmed recent press speculation that its president, CEO and director, Daniel Bernard, is to resign after 13 years as head of the company.
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The announcement comes after recent rumours that key shareholders were unhappy with Bernard’s performance amid weak sales at Carrefour’s core French hypermarkets.
Carrefour said it has decided to set up a supervisory board, as a control body, and a management board, in charge of managing the group’s operations, in order to improve corporate governance.
The company said Bernard did not wish to preside on the supervisory board or the management board, and has therefore also tendered his resignation from the board of directors. Head of the company’s Europe operations, Joel Saveuse, has also resigned.
Carrefour said it had separated the roles of president and CEO. Luc Vandevelde has been named president of the supervisory board and Jose Luis Duran has been named chief executive officer and president of the management board.
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