Luc Vandevelde has resigned as Carrefour chairman amidst growing speculation of a takeover bid for the French retail giant.
The ex-M&S chairman -nicknamed “Lucky Luc” during his time there - has left his post at a time when his future was already said to be in doubt after alleged disagreements with Carrefour's most powerful shareholder, the Halley family. Vandevelde will be replaced by Robert Halley.
The Halley family owns 13 per cent of Carrefour and controls 26 per cent of shareholder voting rights. And French billionaire Bernard Arnault and private equity group Colony Capital have bought a 9.1 per cent stake in the group.
According to reports, a share purchase by Vandevelde in February triggered speculation that the world's second biggest retailer was considering a leveraged buyout, which would expose Carrefour to higher debt levels.
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