What:  A new organization at travel retail giant Lagardère.

Why is it important: Lagardère is restructuring, by promoting in-house seasoned veterans to key positions, designing a new ad hoc Asia Pacific management structure, and frontally addressing key business model topics

Lagardère Travel Retail is reshaping following the departure of Ambroise Fondeur, former Chief Business Officer (26 years in the company), triggering a domino restructuring: former CEO of the Italy BU Lucio Rossetto takes over, with direct report to the CEO. Emmanuel de Place, currently COO of Asia Pacific, takes over the role of Chief Transformation Officer, in charge of reviewing the concession business model, to make it more efficient & flexible, with a shorter-term approach, adapted to the current troubled times. His position is being split in two: former Chief Development and Strategy officer Severine Lanthier becomes COO Greater China, Japan, Singapore, and Malaysia, while Singapore CFO Ann Pang becomes CEO of Singapore and Malaysia. This split has been designed to address the different dynamics in the region: aggressive growth in China, stabilization in the rest of the region.

Lagardere Travel Retail posted a turnover of €5,5bn through 4,800 stores in 39 countries. Its revenue fell by 55% in the first half of 2020 YoY.

Lagardère Sets Course For Retail Recovery With Top Executive Changes And Split Focus In Asia