Published by Global Banking & Finance Review®
Posted on November 12, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleThe Saade family has acquired a 4% stake in Carrefour, becoming its second-largest shareholder and gaining a board seat.
(Reuters) -The family of billionaire Rodolphe Saade, owner of French shipping group CMA CGM, has bought a stake of around 4% in Carrefour to become its second-biggest shareholder, Europe's largest food retailer said on Wednesday.
The purchase heralds a new era among major Carrefour shareholders, as Peninsula, the family holding of the late Abilio Diniz, has now sold its 8% stake, Carrefour said in a statement. Financial details were not disclosed.
Carrefour said Saade would get a seat on its board to replace Peninsula, which was represented by Eduardo Rossi, for the remainder of its term up to the 2028 annual general meeting. The switch will take effect from December 1, it added.
"Carrefour's transformation, which combines innovation, operational discipline and environmental responsibility, is aligned with the values that guide our commitment," Saade said in the statement.
"By joining its board of directors, I intend to contribute to this momentum and support the Group’s long-term development," he added.
Galfa, the holding of the family that owns French department store Galeries Lafayette, remains Carrefour's largest shareholder with a 9.46% stake.
(Reporting by Mathias de Rozario in Gdansk and Dominique Vidalon in Paris. Editing by Mark Potter)
Corporate governance refers to the systems and processes that direct and control a company, ensuring accountability and transparency in its operations.
A board of directors is a group of individuals elected to represent shareholders and oversee the management of a company, making key decisions on its direction.
A stake in a company refers to the ownership interest held by an individual or entity, typically represented by shares of stock.
Innovation in business involves introducing new ideas, products, or processes to improve efficiency, effectiveness, or competitive advantage.
Explore more articles in the Finance category
