Ontex Group announced that its chief financial officer Jacques Purnode will step down from this position effective December 31, 2018. Charles Desmartis who is joining Ontex today, Nov. 15, will be appointed CFO effective January 1, 2019.

In order to ensure a smooth transition, Purnode will work closely with Desmartis until the end of March 2019.

Charles Bouaziz, CEO of Ontex, says, “Jacques has played a key role in the development of Ontex since joining in 2013, during which time the group has transformed from a privately held to a publicly listed company, has almost doubled in size and expanded internationally. I would like to personally thank Jacques for his support and contribution during the past five years, and having indicated his wish to retire earlier this year, I am grateful that he will continue to play an active role until March to support me in the comprehensive review of our business.”

Bouaziz adds: “At the same time, I am very pleased to have someone of Charles Desmartis’ caliber joining Ontex. Charles has a strong financial background in listed companies, and his experience in international retailing, and specifically Brazil, will enable him to make an immediate contribution to our comprehensive review. We welcome Charles to the Ontex team.”

Desmartis has held CFO positions at Axalto, subsequently Gemalto and then Europcar before joining Carrefour as group financial controller. Most recently, he was CEO for the Carrefour Group in Brazil, where he successfully designed and implemented a turnaround and expansion plan in preparation for the Group’s IPO which took place in July 2017. Desmartis holds an MBA from the Ecole des Hautes Etudes Commerciales in Paris and a Master of Science in Management from Stanford University.