C&A elects outsider as its new CEO

C&A elects outsider as its new CEO

Alain Caparros is set to become C&A Europe’s new CEO, a move contrary to the company’s traditions. Normally, a company man is appointed, but Caparros has not worked for C&A before. He will face the arduous task of trying to improve the fashion company’s profitability.

Turn around sluggish results

Until the end of the month, Caparros will stay on at Rewe, but on 1 August he will take charge of C&A’s European division, as confirmed by family holding Cofra. He had been in the running for the position of Carrefour CEO , but lost out to Alexandre Bompard. It is quite rare that C&A appoints an outsider to the higher echelons of its company.

 

The new CEO will succeed Philippe Brenninkmeijer, who resigned as C&A Europe’s CEO in May. Ever since, Edward Brenninkmeijer had assumed the position of CEO temporarily. Philippe stepped down because the company’s turnover has been slipping for years, partially because of competitive price breakers like Irish Primark. Caparros will now have to try to get the company back on track.

 

C&A recently announced a new investment plan: plenty of stores will be remodeled, but onerous stores will have to shut down. Earlier this year, it closed 23 Spanish stores and also divested entirely from Turkey last year.