By  on May 24, 2012

PARIS — Accelerating its management transition, Carrefour SA said Georges Plassat has taken over as director, chairman and chief executive officer as of Wednesday.

Plassat succeeds Lars Olofsson, who submitted his resignation to Carrefour’s board and indicated he plans to retire, having “met all the required conditions” to shorten a transition period that began Jan. 29, the company said in a press release.

Initially, Carrefour said Plassat would take the management helm following its annual shareholders’ meeting on June 18.

During Olofsson’s three-year tenure, the world’s second-largest retailer behind Wal-Mart Stores Inc. has struggled to turn around its ailing hypermarket business and posted a string of profit warnings.

Emerging markets continue to be the growth engine for Carrefour, offsetting tough trading conditions in southern Europe. The retailer posted sales of 22.49 billion euros, or $29.45 billion, in the three months ended March 31, as reported.

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