Published reports say that Luc Vandevelde, the former chairman of Marks & Spencer, is to be appointed as the non-executive chairman of Carrefour, the French retailer.
When Vandevelde left Marks & Spencer, he was criticized for not devoting enough time to the retailer, which has been in competitive trouble both before and since his departure.
Vandevelde has been on the Carrefour board since 2003 as the representative of the Halley family, which owns 11.5 per cent of the company's shares. He also previously was president, chief operating officer and chairman of Promodes from 1995-2000, and which subsequently merged with Carrefour.
The installation of Vandevelde is expected to result in the departure of current chairman Daniel Bernard from the company. Bernard has been criticized for a decline in sales in Carrefour’s home market.
When Vandevelde left Marks & Spencer, he was criticized for not devoting enough time to the retailer, which has been in competitive trouble both before and since his departure.
Vandevelde has been on the Carrefour board since 2003 as the representative of the Halley family, which owns 11.5 per cent of the company's shares. He also previously was president, chief operating officer and chairman of Promodes from 1995-2000, and which subsequently merged with Carrefour.
The installation of Vandevelde is expected to result in the departure of current chairman Daniel Bernard from the company. Bernard has been criticized for a decline in sales in Carrefour’s home market.
- KC's View:
- Interesting move, especially since it isn’t like Vandevelde left M&S covered in glory.
