Days of reckoning

Lars Olofsson probably wasn’t the only one with nerves ahead of his first big presentation as the new boss of Carrefour. Bernard Arnault, the luxury goods titan who put him into the job, had plenty to worry about too. Arnault, Carrefour’s biggest shareholder, has seen his investment halve in value since he and hedge fund Colony Capital bought in two years ago. Olofsson made a good impression, but recouping that loss looks some way off. Olofsson, a former Nestlé executive, came out talking toug...