New CEO Needs To Bring Cost-Cutting Skills To Carrefour

French retail giant Carrefour has announced that its Chairman and CEO Lars Olofsson is to be replaced by Georges Plassat, currently the head of fashion retailer Vivarte Group. Plassat is to take control in June 2012 and will face the task of turning around a firm that has seen its share price fall by 70% over the last five years. Ironically, we had finally started to see some positives coming out of the company, with signs that it had finally started to get a handle on its problems in Europe. However, there is still much for Plassat to do, including

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