UPDATE 1-Carrefour boss granted three more years to seal revival

jueves 11 de junio de 2015 09:43 GYT
 

(Recasts with Plassat comments at AGM)

By Dominique Vidalon

PARIS, June 11 (Reuters) - Carrefour Chief Executive Georges Plassat told shareholders on Thursday he would step up online expansion and efforts to give more power to local managers as he won a new three-year mandate to cement the French retailer's turnaround.

"Carrefour is making strides. It has restored its image and I am proud of that," Plassat told the company's annual shareholders meeting.

"The future is to stay the course to remain a big global retailer," Plassat said of the world's largest retailer after U.S. giant Wal-Mart

Carrefour, which makes 73 percent of its sales in Europe, has suffered from a reliance on the hypermarket format it pioneered as customers shift to more local and online shopping, trends that have caused headaches for British retailers.

Since taking over as CEO in 2012, Plassat has led a recovery at Carrefour, focusing on price and cost cuts, accelerating expansion into convenience stores, and renovating stores to boost growth amid weak consumer spending.

Plassat said the group would continue these efforts but be more aggressive on online expansion as well as on innovation.

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