Stephan DuCharme

Career

Early career DuCharme graduated with honors in Political Science and Economics in Political Science and Economics from the University of California, Berkeley (USA) and has an MBA degree from INSEAD business school. From 1987 to 1991, he was a financial analyst in Salomon Brothers Bank before joining the European Bank of Reconstruction and Development (EBRD), based in Moscow. In 1997, DuCharme joined Alfa Group as a director of corporate development, finance and oversight.

In 2001, DuCharme moved to London and joined SUN Group, where he particularly supervised SUN Interbrew. In January 2013, the supervisory board of X5 nominated DuCharme to take over the CEO position on a permanent basis subject to shareholder approval. DuCharme’s strategy included the introduction of a new operating model, the introduction of refreshed commercial value propositions, the refurbishment of stores and introduction of new management structures. Under his tenure, DuCharme’s strategy improved the company’s performance and growth against competitors such as Magnit, especially from 2014 onwards.

In September 2015, it was announced that DuCharme would step down as CEO of X5 and become chairman of the group's supervisory board.

On 1 March 2022, X5 Retail Group announced that DuCharme had resigned as a member of the X5 supervisory board with immediate effect.

In July 2017, it was announced that L1 had bought a 3% stake in Spanish supermarket chain Dia, which gradually increased to just under 30% by October 2018.

In February 2019, L1 made an offer to buy out the remaining shareholders following the group’s announcement of a €352.6m loss in 2018. On 21 May 2019, following completion of negotiations with Dia Group’s creditors and with a majority of Dia Group now owned by L1, DuCharme was appointed as non-executive Chairman of Dia Group.

In April 2020, it was announced that DuCharme would take on executive functions with his role, effective from 20 May of that year, after Karl-Heinz Holland stepped down as CEO.

DuCharme resigned as managing partner of L1 Retail in September 2023, also stepping down as chair of the board of direors at Dia Group at that time.