Struggling Dutch retailer Laurus today (19 October) announced the appointment of Jan Brouwer as chief executive officer. News of the appointment, which will come into effect on 6 November, boosted Laurus’ share value in morning trade.

Brouwer, who served as CEO at retailer Schuitema between 1996 and May of this year, will replace interim CEO Tonn van de Laa, who has been at the helm of the retailer since the end of August.

Shares in the company, which operates the Super de Boer supermarket chain, soared following the announcement, increasing by 9.14% to EUR2.15 (US$2.70) at time of press.

Earlier in the week, Laurus revealed a new EUR220m credit facility to replace its existing arrangements and unveiled plans to streamline the company as part of its rejuvenation plan.