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Friday Nov 25, 2011

Carrefour Friday categorically denied press reports suggesting the replacement of its CEO Lars Olofsson, but according to a source familiar with the matter, George Plassat, Vivarte boss, has been recently approached and declined the proposal.

Georges Plassat, CEO of owner signs Andre Minelli or Kookai, was approached by the shareholders of Carrefour and declined the offer this month, said the source told Reuters.

"It has been proposed and he said 'no'.It was during November, "said the source.

"There is still no candidate to succeed Lars Olofsson."

Le Figaro wrote in its Friday edition that George Plassat was approached to lead Carrefour.

"It is courted for months by the main shareholders of Carrefour," the newspaper said.

"He refused the post of CEO before the summer because it was hard to find a successor to lead Vivarte (…) More and more interested in a challenge to his position, George Plassat has not closed yet the door to negotiations. On the contrary, "continued the newspaper.

The major shareholders of Carrefour are the fund Colony Capital and Groupe Arnault, the family holding company LVMH CEO Bernard Arnault.

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