Monoprix chairman Régis Schultz quits France’s Casino group

A top official at French market chain Casino who was mooted as the following administrator and CEO is leaving the gathering.

Régis Schultz, the director and CEO of Casino’s upmarket Monoprix brand, is leaving to “seek after new expert ventures universally”, as indicated by an announcement from Casino on Tuesday. He will be supplanted one month from now by Jean-Paul Mochet, leader of Casino’s accommodation store brand Franprix.

Mr Schultz’s takeoff comes at a troublesome time for Casino and its greater part investor, Jean-Charles Naouri, who is additionally administrator and CEO.

A month ago, Casino’s parent organizations including Rallye declared they had entered liquidation assurance in a court-drove procedure known as “procédure de sauvegarde”. This enables them to solidify obligation installments and take as long as year and a half to propose a rebuilding.

Days after the fact, Casino said it had chosen not to pay an interval profit in 2019 as a major aspect of endeavors to pay off its obligation.

Mr Schultz is generally reputed as a contender to wind up CEO of UK DIY chain Kingfisher, as first revealed by Retail Week.

Before Monoprix, he went through three years as CEO of Darty Group, a French chain that spends significant time in residential apparatuses. He has likewise recently worked for Kingfisher and its now backup Castorama. Mr Schultz and Kingfisher did not react to demands for input.

Mr Schultz joined Casino in August 2016 and was likewise an individual from its official board. During his residency, Casino turned into the main French retailer to reveal an appropriation manage Amazon to convey Monoprix food supplies to Prime Now clients.

In November 2017, it uncovered an arrangement for Monoprix to utilize UK online general store Ocado’s mechanized stockroom innovation and online retail stage.