PARIS – Galeries Lafayette is consolidating its foothold at Carrefour.
Carrefour, the world’s second-largest retailer behind Wal-Mart Stores Inc., said Wednesday its board of directors has decided to appoint Groupe Galeries Lafayette chief executive officer Philippe Houzé as observer.
“He will attend the meetings of the board of directors in an advisory capacity,” the retailer said. His appointment will be proposed to the general meeting of shareholders in 2015.
Motier, the holding company of the family that owns Groupe Galeries Lafayette, earlier this year bought a 6.1 percent in Carrefour’s share capital.
Motier is the investment arm of the Moulin family, which owns 100 percent of Groupe Galeries Lafayette. It is presided over by Ginette Moulin, who heads the supervisory board of Galeries Lafayette and is the granddaughter of the group’s founder.