Troubled Carrefour calls in veteran Plassat to take over the helm

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Carrefour has confirmed that the veteran retailer Georges Plassat will replace Lars Olofsson as chief executive after a troubled period at the world's second-largest retailer.

Mr Plassat, the current chairman and chief executive of fashion group Vivarte, which owns the Kookai and Naf-Naf chains, will join on 2 April as chief operating officer before he takes on the same two roles at Carrefour after its annual meeting on 18 June.

In the last 18 months the group has suffered five profit warnings.

Mr Plassat said that he is "well aware of the magnitude of the task ahead".