(Corrects spelling of “Cromology” in headline and first paragraph, and spelling of “paints” in first paragraph)
PARIS, Sept 11 (Reuters) - French voucher and prepaid card provider Edenred said on Friday that Bertrand Dumazy, head of decorative paints company Cromology, would become its new chairman and chief executive, effective in late October.
Dumazy replaces former Chairman and CEO Jacques Stern, who left the company on July 31 to take over as head of tax-free shopping business Global Blue, a Switzerland-based company. .
Chief Financial Officer Loic Jenouvrier will leave the group before end-2015, after seven years with Edenred, the company also said in the statement, which confirmed a Figaro report about Dumazy’s appointment.
Dumazy, 44, joins the owner of the Ticket Restaurant brand as fears over growing risk in its key market of Brazil have weighed on Edenred’s stock.
Shares in Edenred closed down 4.8 percent on Thursday. The stock has lost nearly 30 percent of its value since Stern announced his surprise departure on May 18.
Edenred said in late July that it had found a new boss but would not be making the name public until September. (Reporting by Dominique Vidalon)