Paris, March 6 - French retail giant Carrefour SA favors further reform of France' highly-regulated retail market, Chief Executive Jose Luis Duran said Thursday.
"We are for more competition, for more flexibility," Duran told journalists and analysts at a presentation of the company's full-year results, adding he wasn't just referring to the Raffarin law that limits store expansion.
Commenting on Carrefour's plans to decide in the second half of the year on further conversion of Champion stores to the Carrefour brand, Duran said more analysis on the subject is necessary.
Champion store conversions in France couldn't take place "overnight" he said, referring to the large number of franchised stores - 500 - in the country as well as the extent of the task. He cited packaging requirements and software changes as adding to the weight of the task.
Duran said he is confident in the company's current governance structure after the leading shareholder, the Halley family, Wednesday said it is dissolving its shareholder pact.