Marius Vacalau has been promoted to the new position of Chief Executive Officer at Lagardère Travel Retail Romania.
Vacalau joined the Group in 2007 as Commercial & Marketing Director of Lagardère Travel Retail in Romania and became its Chief Operating Officer in 2011.
In a twin development, Stefan Picard, currently CEO of Lagardère Travel Retail Romania and Bulgaria, will move to take on the position of Executive Vice president Commercial Development and Transformation, Duty Free Global (DFG), effective 1 November.
Picard will lead a new division, assuming responsibility for managing the Operations and Development Department (ODD) while spearheading efficiency and growth improvements in DFG.
YORDANOV IS BULGARIA CEO
Since joining the Group in 1996, Canadian and French citizen Picard has handled several roles: in Hungary as Project Manager; in Canada as Commercial Director; and has experience launching travel essentials and foodservice activity in Bulgaria. He assumed the position of CEO of Lagardère Travel Retail Romania and Bulgaria in 2012.
His responsibilities in Bulgaria will be passed to Mladen Yordanov, who has held a variety of positions in Lagardère Travel Retail Bulgaria since joining in 2008 such as Chief Financial Officer, Store Network Director, Deputy General Manager and Managing Director.
Yordanov and Vacalau will report to Philippe Hautrive, Deputy COO, EMEA and Picard will report to Lylian Vignau, CEO, Duty Free Global.
“We would like to wish Stefan, Marius and Mladen every success in their new roles,” Lagardère Travel Retail said in a statement.