Sources inform “Globes” that Rami Shavit, the owner of Hamashbir Lazarchan, is pushing for the appointment of a CEO for the Marionnaud-Mashbir chain. Hamashbir Lazarchan and French retail group Marionnaud Parfumeries (Paris: MPAR) jointly own Marionnaud-Mashbir. Marionnaud-Mashbir acting chairman Meir Dahan, who spearheaded the deal that led Marionnaud Parfumeries to invest in Hamashbir Lazarchan, will probably resign.
Rami Shavit said in response, “Dahan has worked at Hamashbir Lazarchan as an outside employee, and recently headed the Marionnaud Parfumeries deal. We decided that a CEO had to be appointed for cosmetics, and we’re looking for a CEO for Marionnaud-Mashbir.” Marionnaud-Mashbir’s annual turnover currently totals NIS 220 million, and the target is to increase this to NIS 300 million within two years.
In response to the report of his impending resignation, Dahan told “Globes”, “The matter is under discussion. Things will come to a head next week, when Marionnaud Parfumeries’ global procurement manager and CEO of international business arrive for a board meeting.”
Marionnaud-Mashbir is planning to open six independent branches over the coming year.
Due to the alleged accounting regularities at Marionnaud Parfumeries, which have cause the company’s share to tumble 40%, its overseas suppliers have been reassessing their supply and credit policy toward the chain.
Published by Globes [online] - www.globes.co.il - on January 13, 2005