Casino supermarket chief makes hasty exit

21st March 2005, Comments 0 comments

PARIS, March 21 (AFP) - French supermarket group Casino announced Monday the appointment of former company president Jean-Charles Naouri to the post of chief executive officer, following the departure of managing director Pierre Bouchut, the company said in a statement.

PARIS, March 21 (AFP) - French supermarket group Casino announced Monday the appointment of former company president Jean-Charles Naouri to the post of chief executive officer, following the departure of managing director Pierre Bouchut, the company said in a statement.

Shares in Casino were up 3.04 percent at EUR 62.70, recovering from a drop of 0.30 percent before the announcement.

"I was very very surprised" about Bouchut's departure, said Alexandre Casas, analyst for Ixis Securities. "We are waiting to find out the reason for these changes."

Casino's announcement came after reports in the economic dailies La Tribune and Les Echos. The online edition of La Tribune said Bouchut had been forced out by Naouri.

© AFP

Subject: French News

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