PARIS -(Dow Jones)- Carrefour SA (CA.FR), France's largest retailer, said late Thursday it has created a unit to handle its real estate activities under the supervision of Francis Mauger.
The unit will gather Carrefour's real estate in France, Spain and Italy as well as the company's international real estate, Carrefour said in a statement.
The French retailer also hired Yves Cadelano to head Carrefour Property France. Caledano was a top executive at Mercialys (MERY.FR), the real estate unit of rival retailer Groupe Casino (CO.FR).
The changes in the structure of the French retailer come after Georges Plassat took over as chief executive on May 24 to replace Lars Olofsson who retired. Plassat is the third Carrefour CEO in four years.
Plassat, who started as chief operating officer in April, has already started shaking up the executive committee and meeting with unions. The new CEO faces many challenges to revive the ailing retailer, which has reported a string of bad news over the past few years as its share price plummeted.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; firstname.lastname@example.org
(END) Dow Jones Newswires
June 01, 2012 02:17 ET (06:17 GMT)
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