Retail in Asia

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Carrefour’s Plassat to assume CEO role early

France’s Carrefour sped up its transition to new management on Thursday, saying that Lars Olofsson had retired at a board meeting on Wednesday, paving the way for Georges Plassat to take over as chief executive immediately.

The retail veteran, who joined Carrefour on 2 April as chief operating officer, is tasked with reviving the struggling retailer. He was due to become CEO on 18 June.

He had already begun reorganising the company, letting go of some top managers and setting a course for job cuts in the face of shrinking European economy.

(Source: CNBC)