Lars Olofsson : the new CEO of Carrefour

Carrefour, 2nd world actor retail industry, announced on November 18 the nomination at the post of CEO of Lars Olofson, 56 years. He will take the leadership of the group on January 1, 2009.

Carrefour weakens by the current economic crisis

Carrefour has difficulties because of the current financial and economic crisis. Indeed, the sales in France decreased approximately by 5,7% this year. Moreover, Carrefour always makes about half of its turnover in France (48%). This dependence is not encouraging at all when it is known that the french household consumption decreases because of the current economic and social context. And with the fall of the CAC40, the Carrefour security moved back of more than 40% since the beginning of the year 2008.

José Luis Duran (future ex-CEO)"picks up the pieces" and will be replaced by the Swede Lars Olofsson. His main mission will be to improve the position of Carrefour in France and especially to decrease this "French dependance" by actively persuing the international development of the company.

Who is Lars Olofsson?

Lars Olofsson, 56 years was to now the director of the strategy, the marketing and the sales of the Swiss group Nestle. Moreover, it passed the essence of its career within Nestle.
He entered Nestlé in 1976 as product manager of Findus. Then he was named in 1981 in Nestle France and there occupies various sales and marketing functions. In 1992, he becomes general manager of Findus France. Three years later, he takes the head of the Scandinavian activities (Sweden, Norway, Finland, Denmark) of the Nestle group. In 1997, he returns to France to become General manager of Nestle France. He will leave this job 4 years later to become Director of Nestle Europe before occupying its last position at Nestle: director of the strategy, marketing and the sales.

He will bring his knowledge about negociation between suppliers and retailers and will consequently facilitate the business between Carrefour and its mai supplier Nestle.

Taking into account the current economic situation, Lars Olofsson will not have much breathing space to successfully fulfill his mission and bad results could weaken the title in the stock market and tensions can appear with its main shareholder Blue Capital who holds nearly 14% of the French group.