Saturday, February 20, 2016

Vivarte changes (yet) CEO to revive – The World

Le Monde | • Updated | By

The former owner  wanted to turn into vain Halle, low-end sign  installed in the peripheral areas of provincial  cities in a chain of more upmarket stores.

Three CEOs in less than four years. After Marc Lelandais, arrived in July 2012 and Richard Simonin, in November 2014, is Maquaire Stéphane, President of Monoprix since 2010, who will be called to the bedside of Vivarte May 9 This group, which covers La Halle, Andrew, Minelli, Kookai, Naf Naf and Chevignon, still faces heavy financial and strategic issues despite drastic cuts in staffing, reduction of stores and erasing part of a colossal debt.


Stéphane Maquaire shareholder, which turned into a Monoprix chain bobo-trendy high-end stores than in the past, will this time give back to the group’s brands including La Halle totally lost attractiveness.

Apart from its current CEO, Vivarte should also lose one of its four main shareholders, Golden Tree, which wants to sell part of its shares. He will not have a seat on the board, unlike the other three funds, Oaktree, Alcentra and Babson. Vivarte, the debt was reduced from 2.8 to 1.3 billion euros, trusts “there is no difference between the shareholders, it is a classic process of life …


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