French retail giant Carrefour has denied reports that it is seeking a replacement for its chief executive officer, Jose Luis Duran.
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A report in the Financial Times on Saturday (2 August) claimed that the world’s second-largest retail group had hired a search firm to replace Duran because of the company’s recent poor performance.
Duran was removed from the board when it was restructured at an extraordinary shareholder’s meeting last week, but remained CEO. At that meeting, a single board of directors was created to replace Carrefour’s two-tier system of management and supervisory board.
A spokesperson for Carrefour has said that the company is not looking to replace Duran as CEO, stating that his absence from the new board is not indicative of any lack of confidence in him.
However, according to reports, the new board is divided over its support for Duran and is increasing pressure on him to improve the company’s performance.
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By GlobalDataCarrefour declined to comment on the rumoured division in the board when contacted by just-food.
