Taking over at Dia: President DuCharme leaves the company after relaunching it, but without appreciating the share

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Relief in the dome of the Day Group. The until now president Stephan DuCharmHe announced his resignation this Friday. The decision comes after the cessation of his professional relationship with LetterOne, the holding company that controls the supermarket chain. It comes out after completing the relaunch of the brand, immersed in a transformation process that, however, has not been reflected in the share price.

The board of directors of Dia has informed the National Securities Market Commission (CNMV) of the resignation of DuCharme as director and president of the governing body of the supermarket chain and of his replacement in the position of non-executive president by Benjamin J. BabcockCFO of LetterOne.

Stephan DuCharme joined Grupo Dia in 2019 when LetterOne became the company’s main shareholder, at which time he assumed the role of non-executive president and later held the position of executive president. After these 5 years at the head of Grupo Dia, he has led the profound strategic and cultural transformation that the organization has undergone. DuCharme became President of the Board of Directors in September 2022 with the promotion of Martín Tolcachir as CEO of Grupo Dia.

Just three months ago, during his speech at the company’s shareholders meeting, DuCharme assured that Dia had experienced “an important turning point” in 2022. “Three years ago we began a challenging journey with the goal of building a new Dia with two key elements: deploying a new value proposition and renewing our assortment and rebuilding relationships with our customers. stakeholders. We have met the key milestones of a strategy that has proven to be appropriate,” she stated, while acknowledging that “This transformation is not being reflected in the share price at the rate that many of us would like.”

In a statement, the company thanked “the services provided during his mandate, highlighting his unstable contribution to the transformation of the DIA group and the consolidation towards business growth.”

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