The French media has claimed that Carrefour chairman Daniel Bernard and European head Joel Saveuse could be on the way out. Europe's biggest retailer has not commented on reports but said its board was meeting to discuss the firm's "structure".
Sales have declined over the past 18 months at Carrefour's French hypermarkets and it has admitted to planning price cuts to bring shoppers back.
La Tribune newspaper reported that Carrefour's finance director Jose Luis Duran is set to take over as head of its management board.
And former M&S chairman Luc Vandevelde, is set to become chairman of Carrefour's supervisory board, the newspaper said.
Carrefour shares, lost 20 per cent of their value last year and now sit at half their 1999 price.
The world's second-largest retailer recorded sales of €81.4bn in 2004, with more than half coming in France.
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