business news in context, analysis with attitude

The Financial Times reports that Carrefour has hired a search firm to find a replacement for CEO Jose Luis Duran, who was removed from the board of directors last week though kept on in the CEO position.

Carrefour is denying that it has hired a headhunting firm.

According to FT, the Carrefour board is divided about Duran’s future, with some wanting him dismissed immediately and others willing to give him six months to turn things around in a global economy that is shaky at best.

KC's View:
If this were “Jeopardy,” the question would be:

“What does Jose Luis Duran have in common with Willie Randolph?”

While the economy is tough, it seems to me that six months pass in the blink of an eye. Either the board has to buy into Duran’s strategic vision for the company, or not. If not, they ought to replace him.

But if they do, then six months sounds like an unfair deadline … and it almost encourages the company’s leadership to think and act tactically rather than strategically.