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Investing

Troubled Retail Giant Carrefour Picks New CEO

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Carrefour is not as large as Walmart but it is large enough to be a proxy for retail sales in its home market of Europe. And, Europe is done badly

Carrefour appointed a new CEO. Whether that will help it overcome slow growth is debatable. Walmart has suffered from poor growth in its home market–the US–for years, mostly due to an increase in competition and possible market saturation.

According to Reuters

Carrefour SA (CA) appointed Vivarte SA Chief Executive Officer Georges Plassat as CEO, ending Lars Olofsson’s three-year reign that saw shares of the world’s second-largest retailer fall 24 percent

Interestingly enough, Walmart has underperformed the S&P over the same period. Its share are up 6% and the S&P is up 46%

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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