The ex-leader of Carrefour Georges Plassat waives his severance pay

The former ceo of Carrefour Georges Plassat at the heart of a controversy about the conditions of her departure, has decided to waive the payment of the compensation which was to revert to him according to a non-competition clause, announced on Saturday that the Carrefour group.

The former CEO of Carrefour, who left the group in July 2017 at the age of 68 years and asserted his rights to retirement, has received a non-competition indemnity for a gross amount of 3,98 million euro. This amount has been hotly contested by investors and shareholders in general meeting on Friday.


“Georges Plassat has indicated to the board of directors of the Company to Carrefour that because of the misunderstanding that surrounds the financial terms of his departure, he had decided to waive the application of the non-competition clause to which he had been granted and, therefore, the payment of severance pay corresponding”, one can read in the communiqué of the group.

The High Committee of corporate governance (HCGE), which ensures the application of the Afep-Medef code, had stated that the manner of determination of such compensation constituted “deviations serious in relation to the recommendations” of the code of the two groups of employers. Georges Plassat has also received a remuneration – fixed and variable – 1.7 million euros gross as of 2017 as well as a plan of long-term compensation of 6.6 million gross.

(With Reuters)

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