Carrefour Potboiler — Chairman made to resign under pressure

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Luc Vandevelde, the chairman of Carrefour, has resigned after it was revealed that two new shareholders, Groupe Arnault and Colony Capital, have accumulated about 10 per cent stake in the company. Robert Halley of the Halley family will replace Vandevelde. Halley family is the largest shareholder of Carrefour.

It is believed that Vandevelde had been under pressure from the Halley family, which has a 13 per cent stake in Carrefour. It would come as a relief to chief executive, José Luis Durán, as the company said in a statement that it has no plans to sack him.

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