PARIS — Carrefour said Monday that Georges Plassat will take over as chairman and chief executive officer of the company, Europe’s largest retailer.
Plassat, who will join the hypermarket chain here as chief operating officer in April, will succeed Lars Olofsson at the retailer’s annual meeting in June. Olofsson previously informed the board of his intention to resign.
Plassat is a one-time Carrefour executive who since 2004 has served as CEO of the retailer Vivarte (formerly Group Andre). Carrefour stock is down 43% over the last year.
“Plassat declared he is well aware of the magnitude of the task ahead, which will require the support of all within the company,” Carrefour said in a release.