Carrefour Property's flotation delayed

Carrefour announced today that it will delay its plans to introduce its real estate branch Carrefour Property to the stock exchange markets. The French retail giant also announced the departure of Carrefour France CEO James McCann.

 

James McCann, who has only been CEO at Carrefour France since February 2010, has always been a controversial person: he had to deal with (and, eventually, give in to) several major strikes demanding better salaries. The tasks of the former Tesco manager will temporarily be fulfilled by the Carrefour holding's chairman Lars Olofsson. 

 

New structure for Property to allow "eventual" flotation

Olofsson's first act after McCann's departure was suspending Carrefour Property's flotation, which was a very controversial plan with stockholders and employees alike. Nevertheless, the French group maintains its aim to introduce its real estate daughter to the stock exchange “eventually” and it will prepare Carrefour Property by applying a new structure under the watchful eye of an independent board of directors. 

 

Carrefour also announced that it will continue its plans for the flotation of its hard discounter DIA without delay.

Carrefour announced today that it will delay its plans to introduce its real estate branch Carrefour Property to the stock exchange markets. The French retail giant also announced the departure of Carrefour France CEO James McCann.

 

James McCann, who has only been CEO at Carrefour France since February 2010, has always been a controversial person: he had to deal with (and, eventually, give in to) several major strikes demanding better salaries. The tasks of the former Tesco manager will temporarily be fulfilled by the Carrefour holding's chairman Lars Olofsson. 

 

New structure for Property to allow "eventual" flotation

Olofsson's first act after McCann's departure was suspending Carrefour Property's flotation, which was a very controversial plan with stockholders and employees alike. Nevertheless, the French group maintains its aim to introduce its real estate daughter to the stock exchange “eventually” and it will prepare Carrefour Property by applying a new structure under the watchful eye of an independent board of directors. 

 

Carrefour also announced that it will continue its plans for the flotation of its hard discounter DIA without delay.

Questions or comments? Please feel free to contact the editors


Patrick Louvet is Ralph Lauren's new CEO

19/05/2017

Fashion label Ralph Lauren has appointed Patrick Louvet as its new CEO. He will succeed Stefan Larsson, who decided to leave the company following a difference of opinion with founder and chairman Ralph Lauren.

Scotch & Soda continues French conquest

18/05/2017

Dutch fashion brand Scotch & Soda will soon open boutiques in Dijon and Paris, to add to its nine boutiques in France.

Urban Outfitters once again failed to meet expectations

17/05/2017

Fashion company Urban Outfitters failed to live up to 2017’s first quarter expectations. Its like-for-like turnover dropped again for Anthropologie, Free People and Urban Outfitters’ parent company.

Stella McCartney strengthens its retail strategy

16/05/2017

Fashion label Stella McCartney introduced a new store formula in Paris, focused on sustainability. The brand wants to open new stores in Florence, Los Angeles and New York in the summer.

Abercrombie & Fitch considers sales options

11/05/2017

American clothing brand Abercrombie & Fitch has enlisted an investment bank to look at its options if it were to sell the fashion company, although this does not mean it will definitely be sold.

More than 20 million active Zalando customers

09/05/2017

At the end of its first trimester, Zalando surpassed the twenty million active customer milestone. Turnover for the quarter also grew nearly 25 %, to 980.2 million euro.

Back to top