Lars Olofsson, Carrefour CEO and Board member, Announces the Creation of an Executive Board for the Group

Regulatory News:

In order to ensure excellence in execution of Carrefour group’s (Paris:CA) transformation plan and achieve its strategic objectives, Lars OLOFSSON, CEO and Board member, announces a new organisation of the Group’s management.

Under the authority of the Chief Executive, Carrefour’s management is now organised as follows:

• An Executive Board that, together with the CEO, elaborates the Group’s strategy, operational goals and yearly plan, and oversees execution.
• An Executive Committee, which contributes to the definition and implementation of the strategic and operational plan and ensures the roll out of projects. The Executive Committee guarantees the teams’ alignment and the dissemination of management and leadership principles.

The Executive Board is composed of the following members:

• Pierre BOUCHUT, Chief Financial Officer
• Thierry GARNIER, Executive Director in charge of International Partnerships and Growth Markets excluding China and Latin America
• José Carlos GONZALEZ-HURTADO, Group Chief Commercial Officer
• James McCANN, Executive Director France
• The Executive Director Europe will soon join the Executive Board team. Until his appointment, the Executive Directors for Spain, Italy, Belgium and Poland will report directly to Lars Olofsson.

The Executive Committee brings together, in addition to the members of the Executive Board, the managers of the following key Business Units and functions:

Lars OLOFSSON declared: «The changes in our management organisation are a very positive sign for the Group. I am delighted with the arrival of new talents within the newly created Executive Board, as well as with the internal promotions of key managers to strengthen the Executive Committee. In 2010, this reinforced management team will allow us to stay our strategic course and ensure excellence in execution of our transformation plan».

This organisation will be effective February 1.

Biographies of the members of Carrefour Group’s Executive Board

Pierre Bouchut

Pierre Bouchut, a 54-year-old French national, began his career in 1979 with Citibank Paris. In 1987, he joined Bankers Trust France SA as Vice-President of Finance. In 1988, he served as a consultant at McKinsey & Company. In 1990, he was appointed Chief Financial Officer of the Casino group and later became Managing Director. In May 2005, Pierre Bouchut joined Schneider Electric as Executive Director, Finance Control and Legal Affairs. In May 2006, he was appointed a member of the Management Board and in July 2006, he was named Chief Financial Officer. Pierre Bouchut joined the Carrefour Group in May 2009 as Chief Financial Officer. On 14 January 2010, Pierre Bouchut was named to the Executive Board of the Carrefour Group as Chief Financial Officer. He is the sponsor of two Initiatives part of the "en avant” Transformation plan: "Redefining the Group’s organization” and "Rethinking the operating model”.

Thierry Garnier

Thierry Garnier, a 43-year-old French national, joined Promodès in 1997. He served as Director of the Libourne hypermarket from 1998 to 1999. From 1999 to 2003, he served as Carrefour regional Director in several French regions (North of France, greater Lille region, and western Paris region). In 2003, he was appointed Executive Director of Supermarkets France. In January 2008, Thierry Garnier was named a member of the Management Board and Managing Director International (ex Europe). In July 2008, he was appointed to Carrefour Group’s Executive Committee as Executive Director in charge of South East Asia, European countries, India and International Partnerships. On 14 January 2010, Thierry Garnier was appointed member of the Executive Board of the Carrefour Group as Executive Director in charge of the International Partnerships and Growth Markets excluding China and Latin America. He is the sponsor of the Initiatives "Reviving the Carrefour Brand” and "Codifying and disseminating best practice” of the Transformation plan "En avant”.

José Carlos González-Hurtado

José Carlos González-Hurtado, a 45-year-old Spanish national, joined P&G in 1989. After a 6 year stint as Brand Manager in Spain, he held various positions in Marketing in Greece (1995-97) and Spain (1997-1999). In 1999, he joined P&G in Switzerland as Fabric Care Marketing Director for Western Europe, before being appointed Hair Care Marketing Director for the CEEMEA region. In 2001, he became General Manager for the newly established subsidiary in Israel. In 2004, he was named General Manager for P&G, Wella, Gala and Gilette Companies in Ukraine. In 2006, he was appointed Vice President of Global Braun Male Products, and in 2008, he was put in charge of Braun globally.

In November 2009, José Carlos González-Hurtado joined Carrefour’s Executive Committee as Chief Commercial Officer. On 14 January 2010, he was appointed member of the Executive Board of the Carrefour Group as Chief Commercial Officer. He will be in charge of the Initiative "Improving the price image” of the Transformation plan "En avant”.

James McCann

James McCann, a 40-year-old UK national, began his career at Shell Plc before moving in 1994 to Mars Inc. where he worked in both the UK and Russia. In 1999 he moved to J Sainsbury Plc where initially he was the Non-Food Buying Director and subsequently responsible for all Non-Food and Ambient Food Buying. In 2002 he joined Tesco Plc and was appointed Operations Director in Poland in 2003 before being named CEO of the Malaysian business in 2004. In August 2006 he was appointed CEO of Tesco’s business in Hungary. On 14 January 2010, James McCann was appointed Executive Director France within the Executive Board of the Carrefour Group. James McCann is a fluent French speaker.