Auchan Retail has announced the appointment of Yves Claude as its new chairman and chief executive officer.
Claude succeeds Edgard Bonte, who successfully led Auchan Retail to return to a positive economic trajectory.
The decision follows announcements made by the company at the beginning of 2021, aimed at moving towards decentralisation of management in countries where the business operates.
'A Seasoned Professional'
Claude is a seasoned professional with extensive knowledge of the retail industry in France and abroad.
He spent 40 years with Décathlon, where he successively served as shop manager, regional manager, and country general manager for Spain, followed by France.
He took up the role of the financial director of Spain and then France, before taking up the role of group financial director, international development director, group general manager, and Asia Lead, responsible for production and commercial activities.
Before joining Auchan Retail, he served as managing director of Singapore and China at Décathlon.
He was also a member of the board of directors of Adeo and Auchan China.
In August, Auchan reported a 3.7% growth in earnings before interest, tax, depreciation and amortisation (EBITDA) for the first half, to €594 million ($698.60 million).
It added that it expects shopping activity in the second half of the year to depend on pandemic restrictions, although cost savings under its revival plan boosted profits in the first half.
The retailer recently announced that it supports the creation of the Planet-Score environmental labeling system as it aligns with the brand's commitment to promoting greater transparency across its product range for consumers.
© 2021 European Supermarket Magazine – your source for the latest Retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.