Casino: Evolution in Mercialys Management

PARIS--(BUSINESS WIRE)--Regulatory News:

Casino (Paris:CO)

After ten years within the Casino Group, during which he brought a strong contribution to its real estate development, Jacques Ehrmann leaves his positions as director of Casino's real estate activities and Chairman and Chief Executive Officer of Mercialys.

Going forward, he will provide his expertise to both companies through an external advisory role.

Today, the Board of Directors of Mercialys appointed, on an interim basis, Géry Robert-Ambroix, previously Deputy Chief Executive Officer to the position of Chief Executive Officer and Michel Savart, Director of Mercialys to the position of Chairman of the Board of Directors. In parallel, the process of selecting a new permanent Chaiman and Chief Executive Officer has been initiated.

The Group’s real estate division will be managed on an interim basis by André Lucas, Chief Executive Officer of Casino’s hypermarkets and supermarkets division as well as Vincent Rebillard Director of Immobilière Groupe Casino since 2011.

Géry Robert-Ambroix, together with all the members of Mercialys' Executive Committee will continue to pursue the company's successful strategy over the last seven years, notably through the implementation of the "Fonciere Commercante", the deployment of the "Esprit Voisin" project and the €500 million assets disposal plan.

The development of Mercialys continues with the support of the Casino Group which is at the same time accelerating its development abroad, particularly in Colombia and Brazil.

Michel Savart, Director of Mercialys since 2005, is also Chief Executive Officer of Foncière Euris.

Géry Robert-Ambroix, Deputy Managing Director of Mercialys since 2005, has served since 1998 at various leading positions in the management of real estate assets.