The two French retail giants have marked the departure of two of their top executives. The sign that the country that invented hypermarkets continues to produce good export managers. Already under pressure on the stock market because of its indebtedness, the Etienne group led by Jean-Charles Naouri will have to happen July 15 Regis Schultz, 50, owner of the urban sign Monoprix, its main cash machine. The latter is preparing to join the Al-Futtaim distribution group in Dubai to head its non-food subsidiary, a non-compete clause.
Carrefour, led by Alexandre Bompard, is not left out. Thierry Garnier, 53, who since 2012 had been managing the activities of Carrefour’s China subsidiary.
While the CEO of Monoprix takes off and returns to an international career, Thierry Garnier is getting closer to Europe to play the rectifiers. Véronique Laury’s One Kingfischer transformation plan to unify the group’s offer has only delivered 115 million euros out of the 600 million euros in earnings promised by 2021. In France, 11 Castorama stores are to close. The prices of the brand which weighs one third of the group are 8% higher than those of the market. It is now distanced by Leroy Merlin and caught by Bricorama. Another handicap: its delay on the Net with online sales that represent only 6% of turnover.
In China and Taiwan for Carrefour, Thierry Garnier was in charge of more than 350 stores with 55,000 employees and a turnover of 3.8 billion euros in 2018. The group has been present in the Middle Kingdom for twenty years. -four years. But its subsidiary was in trouble since 2010, undermined by the explosion of online business led by Alibaba and platforms Taobao and Tmall. Increased competition with the recent expansion of local e-commerce players into physical commerce.