Carrefour’s two major investors are reportedly mulling whether to replace the retailer’s chairman and CEO Lars Olofsson.

Groupe Arnault, the holding company of French billionaire Bernard Arnault, and US private-equity firm Colony Capital, plan to give Olofsson until the end of the year to turn around Carrefour’s business in France, Bloomberg reported today (21 November).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The report, which cited sources that wanted to remain anonymous, adds to the uncertainty over the future of Olofsson, who joined Carrefour in 2009.

The world’s second-largest retailer has issued a number of profit warnings this year. Its latest warning, issued last month, forecast that its annual operating income could fall by 15-20% in 2011.

Last month, another Carrefour shareholder, US investment fund Knight Vinke Asset Management, urged the retailer to appoint an independent chairman and suggested it could have two CEOs.

Groupe Arnault, Colony Capital and Carrefour could not be reached for immediate comment.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now