Reuters reports that carrefour CEO Lars Olofsson retired from the company yesterday, allowing the COO, Georges Plassat, to move into the CEO job faster than originally expected. He originally was supposed to get the job on June 18.
The story says that "Plassat, who has a record of company restructuring and a reputation as a ruthless cost-cutter," is charged with reversing "years of underperformance in Carrefour's European markets, notably in France." Reuters notes that as COO, Plassat already has "begun reorganizing the company, letting go of some top managers and setting a course for job cuts in the face of shrinking European economy."
The story says that "Plassat, who has a record of company restructuring and a reputation as a ruthless cost-cutter," is charged with reversing "years of underperformance in Carrefour's European markets, notably in France." Reuters notes that as COO, Plassat already has "begun reorganizing the company, letting go of some top managers and setting a course for job cuts in the face of shrinking European economy."
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