La Fourmi chain replaces CEO

Hans Vogels, the Dutchman who has run the restructuring and repositioning process of La Fourmi for the past few years, is no longer the company”s general manager. Vogels was the only top executive who had not been replaced when the company”s controlling interests were sold to an investment fund managed by Global Finance last autumn. “I resigned from my position as general manager of La Fourmi in February,” Hans Vogels told ZF. He did not wish to make any further comment. The Dutchman was recruited in 2004 by the Lebanese investors who had set up La Fourmi, in order to reshape the company, because of the experience he had acquired during his ten years working on the retail market in Poland. According to the latest information, the new manager is Alexandros Tzitzilonis. La Fourmi officials did not wish to make any comments. La Fourmi is the first supermarket network developed on the Capital”s market and was set up by Lebanese investors. Last year, an 80% stake of the company was sold to an investment fund managed by the Greek company Global Finance. ZF