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The changeover will remove some uncertainties, but others will only by extinguished over time. Among them, the biggest question is whether the two main shareholders agree to work and prosper together.Back in 2005, Brazilian businessman Abilio Diniz, chairman of GPA, made Casino and its chief executive, Jean-Charles Naouri, joint partners in the business founded by his family. But the agreement foresaw that Mr. Diniz, now 75 years old, would hand over full control to Mr. Naouri on June 22, 2012.
Jean-Charles Henri Naouri is a French entrepreneur and businessperson who founded La Fondation d'Entreprise Groupe Casino, Fondation Euris and Euris SAS. Casino Group's headquarters country, top executive, number of stores, sales, and countries of operation. Casino Group Profile Jean-Charles Naouri Casino sales Group Casino Supermarket News.
After working together well for the first 11 years, relations between Mr. Diniz and Mr. Naouri have been strained since 2011, when the Brazilian billionaire proposed a merger with the Brazilian unit of France's Carrefour, in a move that might have isolated Casino in the Brazilian market. The attempt failed when Mr. Naouri rejected the deal.
Now, they will have to find a way to work closely or, if this alternative proves not to be viable, Mr. Diniz would have the alternative of exiting the company in which he spent all his life.
Proposals to split off parts of GPA, which is formally known as Companhia Brasileira de Distribuicao SA, to allow Mr. Diniz to follow a separate path, have also been discussed by executives representing both businessmen, but so far with no success, according to people close to the talks.
Under the 2005 agreement, Mr. Diniz has two opportunities over the next 10 years to sell his shares to Casino, but it's not yet clear what course of action Mr. Diniz, who will stay on as chairman of GPA, will take.
'I think it's going to be a personal decision,' said Francisco Chevez, an analyst at HSBC. Once the change of control happens, Mr.Diniz and Mr. Naouri might decide that they need to work together to make the company stronger and to face likely tougher competition in the Brazilian retail in the future, Mr. Chevez said.
There are those who dispute that view, saying the battle for control of GPA caused a permanent break in trust among the French and the Brazilian partners.
Meetings to be held on Friday will mark the control transfer. Casino CEO Jean-Charles Naouri will be appointed chairman of the board of directors of Wilkes, replacing Abilio Diniz. At an extraordinary shareholders meeting of GPA later in the day, three new board members chosen by Casino will be nominated and approved.
'From the 22nd of June, I will continue to be the second main shareholder of GPA, and I will remain active, always seeking the best for the company that my father created,' a spokesperson for Diniz said recently.
According to HSBC's Mr. Chevez, the deal could work out very well if the two agree to work together.
Source: www.silobreaker.com
| Born | 8 March 1949 (age 71) Annaba, Algeria |
|---|---|
| Nationality | French |
| Education | École Normale Supérieure Harvard University ÉNA |
| Occupation | Businessman |
| Children | Gabriel Naouri |
| Relatives | Jean-Yves Naouri(brother) |
Jean-Charles Naouri (born March 8, 1949 in Bône (now Annaba), Algeria) is a French businessman. He is Chairman, Chief Executive Officer and controlling shareholder of Groupe Casino.[1]
Education[edit]
Naouri received his baccalaureat degree at only 15 years old. He then studied in classes préparatoires at the Lycée Louis-le-Grand before entering the École Normale Supérieure in 1967. He also attended Harvard University, before returning in France and completing a PhD in Mathematics in only one year. He is also an alumnus of the Ecole Nationale d’Administration (1974-1976).[2]
Early career[edit]
Civil servant[edit]
After graduating from ENA in 1976, Jean-Charles Naouri joined the Inspection générale des finances (France), the auditing and supervisory body of the French Administration. From 1982 to 1986, he served as chief of staff for Pierre Bérégovoy, both at the Ministry of Social Affairs and National Solidarity and the Ministry of Economy, Finance and Budget.[3] During this period, he was the architect of the reforms implemented in the French financial markets, which included the creation of the MATIF futures and MONEP options markets and the introduction of certificates of deposit and commercial paper. In particular, he helped drive the financial market liberalization with measures to ease currency controls and eliminate credit restrictions.
Rothschild & Cie Banque[edit]
In 1987, Jean-Charles Naouri left government service and joined Rothschild & Cie Banque as Managing Partner.[4] Around the same time, he established his own investment fund, Euris, which acquired minority equity investments in industrial companies, while increasing its investment capabilities.
Global retailing[edit]
Rallye[edit]
In the early 1990s, Jean-Charles Naouri shifted his investment strategy from opportunistic to acquiring strategic stakes. As part of this new strategy, in 1991 he acquired the Brittany-based retailer Rallye, which at the time was facing serious cash flow issues/challenges. Convinced of the future potential for retailing and the benefits of combining the two companies, in 1992 he engineered a merger of Rallye with Groupe Casino, thereby becoming Groupe Casino's largest shareholder.
Groupe Casino[edit]
In 1997, a hostile takeover bid for Groupe Casino by rival retailer Promodès[5] was thwarted by the successful counter offer [6] from Jean-Charles Naouri, the Guichard family and Casino management, thereby maintaining the Group's independence.
In March 2005, Jean-Charles Naouri became Chairman and Chief Executive Officer of Casino Group,[7] leading a substantial transformation of the retailer's profile by disposing of underperforming business segments in Poland, the United States, Taiwan and the Netherlands and strengthening the Group's presence in fast-growing markets. This made Casino the leading food retailer in South America (especially Brazil and Colombia), the Indian Ocean and Vietnam and the second largest in Thailand.
In France, Jean-Charles Naouri has refocused French operations in the convenience format segment, Groupe Casino's core business, and also positioned Casino in the discount segment by developing the Leader Price chain and the Cdiscount e-commerce website acquired in 2000.
Jean Charles Naouri Casino Monticello
In 2012, Groupe Casino acquired a controlling interest in Brazilian retailer Pão de Açúcar, the country's largest private-sector employer.[8] The Group also purchased the 50% of French retailer Monoprix, which it did not already own, becoming the sole shareholder.[9]
Jean-charles Naouri Groupe Casino
Social responsibility commitment[edit]
In addition to his business activities, Jean-Charles Naouri is also the founder of the Euris Foundation, which he created in 2000. Each year, the Foundation grants 40 scholarships to promising high school graduates from impoverished neighbourhoods in France.[10]
He is also Vice Chairman of the Groupe Casino corporate foundation, which he founded in 2009 to improve access to culture and knowledge for children who are disadvantaged or suffering from illness.In addition, he is Honorary Chairman and Trustee of Ecole Normale Supérieure's Institut d’Expertise et de Prospective,[11] which is responsible for developing ties between the school and the corporate world.
In June 2013, Jean-Charles Naouri was appointed by France's Ministry of Foreign Affairs to be a special representative for Economic relations with Brazil.[12]
Positions[edit]
- Chairman and Chief Executive Officer of Groupe Casino, a listed company
- Chairman of the Board of Cnova N.V.
- Chairman and Chief Executive Officer of Euris
- Chairman of Rallye, a listed company
- Chairman of the Board of Directors of Companhia Brasileira de Distribuicao (CBD), a listed company
- Vice-Chairman of the Casino Group Corporate Foundation
- CEO of Casino Finance
- Chairman of the Euris Foundation
Other positions[edit]
- Board Member of Financière Marc de Lacharrière (FIMALAC)
- Member of the Advisory Committee of Banque de France
- Chairman of Association Promotion des Talents, a non-profit organisation
- Honorary Chairman and Director of Institut d’Expertise et de Prospective (Ecole Normale Supérieure)
Net worth[edit]
In 2015, Jean-Charles Naouri was ranked by Forbes Magazine as being worth $1.2 billion dollars. [13]
References[edit]
Casino Jean-charles Naouri Last Throw Of The Dice
- ^Jean Charles Naouri - Executive profile, Bloomberg Businessweek]
- ^Jean-Charles Naouri - Brief biography, Reuters
- ^Casino indiser : Jean-Charles Naouri, Macroaxis
- ^Bookish Frenchman becomes Brazil retail kingpin, Chicago Tribune,June 21, 2013
- ^French Grocery Chain Raises Hostile Bid, the New York Times, September 26, 1997
- ^Casino Guichard-Perrachon S.A. History, Funding Universe
- ^Jean-Charles Naouri becomes CEO of Casino, Retail Analysis, March 24, 2005
- ^Casino to Become Sole Controller of Brazil’s Pao de Acucar, Bloomberg, May 15, 2012
- ^Dean Best, Casino's Monoprix acquisition cleared, Just Food, July 10, 2013
- ^L'excellence des lycéens défavorisés récompensée, Le Figaro, October 22, 2010
- ^Jean-Charles Naouri est nommé président de l'Institut d'expertise et de prospective de l'Ecole normale supérieure, Les Echos, January 22, 2001
- ^Jean-Charles Naouri appointed special representative for economic relations with Brazil, International supermarket news, August 21, 2013
- ^https://www.forbes.com/profile/jean-charles-naouri/#120ea9854bd9