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Carrefour Sticks With Strategy

Arnault, investors not expected to push for changes.

PARIS – Carrefour chief executive officer Jose Luis Duran on Tuesday told a shareholders’ meeting here that the French hypermarket operator anticipated no strategy change as its majority shareholder shifts.

Blue Capital, an investment fund split between LVMH Moët Hennessy Louis Vuitton chief Bernard Arnault and Colony Capital, became Carrefour’s principal investor on Tuesday as France’s Halley family, Carrefour’s longtime controlling family, dissolved an investors’ agreement that had given it control of the retailer, the world’s second largest after Wal-Mart.

Blue Capital, which first purchased a block of the retailer last year, increased its share in Carrefour to 10.7 percent last week.

“We’ve lived with Blue Capital [on the board] for the last year,” said Duran. “I don’t expect any strategy changes.”

For more, see Wednesday’s issue of WWD.