Lagardere Travel Retail names local CEO for operations in Romania

French group Lagardere has named Romanian Marius Văcălău to take the helm of its local subsidiary Lagardere Travel Retail Romania starting November 1, 2019.

He will replace Stefan Picard, who will take over as Executive Vice President Commercial Development & Transformation within Duty Free Global, also part of Lagardère group.

Picard has been CEO of Lagardere Travel Retail Romania since 2010, leading the company through an expansion period, in which it increased the number of shops on the local market from 50 (in 2010) to over 270 (in 2019). The company, which operates through the brands 1 Minute and Inmedio, has also tripled its turnover since 2010, reaching sales of RON 652 mln (EUR 138 mln) in 2018. It also posted a record net profit of RON 32 mln (EUR 6.8 mln) last year.

Marius Văcălău joined the company in 2007 and was promoted to Chief Operating Officer (COO) in 2011.

(Photo source: the company)