Italian grocery market leader Conad has announced a new management structure, with company president Mauro Lusetti and general manager Francesco Avanzini taking over the leadership of the retailer.
The group said that the new management structure provides for 'simplified company governance'.
Conad reported a turnover of €18.49 billion last year, an increase of 8.7% compared to the previous year.
Investment Plan
The cooperative group is mid-way through a 2022-2024 investment plan, under which has earmarked more than €2 billion for the modernisation of its sales network, as well as a number of digitisation projects. It added that a subsequent plan, running from 2025 to 2027 is currently 'being prepared'.
The confirmation of the new management structure follows on from the departure of longstanding chief executive Francesco Pugliese at the end of June, after 12 years at the helm.
'Market Leadership'
“Conad is growing and confirming its market leadership, even in a year marked by dramatic events such as the war in Ukraine, the surge in energy costs and the consequent inflation," commented Mauro Lusetti, Conad president.
"The Conad system is solid in each of its components, as shown by the data. The commitment of our members and cooperatives has affirmed a model that is better able to satisfy the expectations of consumers, even in a difficult period such as the one we are experiencing."
The past year has seen the business launch a new proximity format, TuDayConad, expand its private-label offering, unveil the 'Hey Conad' app, and embark on a new series of environmental, economic and social sustainability projects.
Conad holds a 14.96% share of the Italian grocery market.
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