Supermarket operator Casino is recommending the removal of Galeries Lafayette chief executive Philippe Houze and Abilio Diniz, who controls leading Brazilian supermarket chain Companhia Brasileira de Distribuição (CBD), from its board of directors due to “ongoing conflicts”.
Casino has said it will take sole control of CBD, ending the founding Diniz family’s reign. Last week, Casino initiated the process to take control of CBD, informing Diniz that it will appoint a new chairman to Wilkes, the holding company that controls CBD. The proposals will be voted on at Casino’s general assembly on May 11.
No comments yet