Article Abstract:
Carrefour's stock swap with Promodes was at the rate of six Carrefour shares for one Promodes share. At the end of this operation, and if it is 100% successful, 115mn new Carrefour shares will be created. This operation values Promodes at 80% of its 1999 turnover. The new company is expected to post a EUR 54bn pro-forma before taxes in 1999, for a group share current net earnings of EUR 1bn. The new Carrefour, with stores in 26 countries, has 8,800 sales outlets, including 680 hypermarkets, 2,600 supermarkets, and 3,200 discount stores. Daniel Benard is the president of the new group, Luc Vandevelde is his vice-president. Europe is under the responsibility of Joel Saveuse, and Asia is under Rene Brillet. Leon Salto is the managing director of France, Alfonso Merry de Val is the managing director of Spain, and Jean-Francois Domont is the managing director of Other European Countries.
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Article Abstract:
Carrefour, the French retail group, is testing a new, less hierarchical organisation of its managerial staff: support operations, sales, and service. If this test is successful, this organisation will be extended to all stores in June 1999. First of all, the department heads will become business managers, and their function is more centred on sales. The sector heads will become experts in charge, and each will be specialised in one of five new functions created: the person in charge of sales operations, the person in charge of management control, the person in charge of marketing, and the person in charge of organisation and flow, and the person in charge of human resources. These five functions will be present in stores making a turnover of over FFr 1bn, and in those making less than FFr 500mn, the experts in charge will cover two or three stores.
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Article Abstract:
By the end of October 2000, all of the Carrefour hypermarkets are to adopt its new less hierarchical organisation of its businesses developed by the group. Eight sales outlets have already adopted this organisation, and 14 more will do so by the end of 1999. By the end of 1999, 24 hypermarkets will also have adopted the check out stand management project, which allows check out personnel to determine their own planning. The Continent hypermarkets are also to adopt this organisation, as part of the merger with Carrefour.
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