French retailer Carrefour SA denies reports that CEO Lars Olofsson is being asked to leave or replaced

LOS ANGELES , November 28, 2011 () – French retailer Carrefour SA denies that Chief Executive Lars Olofsson is being asked to leave or replaced, Dow Jones Newswires reported on Nov. 25.

In a statement, the company announced, "Following recurring rumors about the potential replacement of Carrefour's CEO, the Board of Directors of the company formally denies all information published in the press on that subject."

Earlier, the French daily Le Figaro had reported unsubstantiated rumors that two of Carrefour’s largest shareholders, Colony Capital LLC and Groupe Arnault SAS, wanted to replace Olofsson as CEO. Le Figaro also floated Georges Plassat as a potential replacement for Olofsson.

The primary source of this article is Dow Jones Newswires, New York, New York, on Nov. 25, 2011.

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