Four board members leave CarrefourSA over partners' dispute

Those who departed the board included Chairman Haluk Dinçer.

Four board members leave CarrefourSA over partners' dispute

World Bulletin / News Desk

Four board members of giant retailer CarrefourSA have quit over a rift that recently grew barely sustainable between its two shareholders, Sabancı Holding from Turkey and Amsterdam-based Carrefour Nederland.

Those who departed the board included Chairman Haluk Dinçer.

“As Sabancı we are a minority shareholder in CarrefourSA with a 38.8 percent share. We have understood that we will not get the required support and contribution from the majority shareholder Carrefour [Nederland] and decided to quit with other friends,” Dinçer said in a statement, explaining the motives for his resignation. Dinçer had worked as the chairman of the board for the retailer since 2004.

The other board members who resigned together with him were Faruk Bilen, Mehmet Tevfik Nane and Zeynel Korhan Bilek. Sabancı Holding CEO Zafer Kurtul had previously revealed that they were not happy with the retailer’s performance. He said the holding appointed investment bank Rothschild to assess what options its shares in CarrefourSA held on Feb. 24.

Last Mod: 16 Temmuz 2012, 17:41
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