Frédéric Chevalier appointed Lagardère Travel Retail CEO

FRANCE. In major industry appointment news, Frédéric Chevalier has been appointed Lagardère Travel Retail CEO, effective 1 July. He will work alongside current Chairman & CEO Dag Rasmussen, who has recommended Chevalier’s promotion. {A major exclusive Moodie Davitt Report interview with Rasmussen and Chevalier will follow shortly}.

Chevalier joined Lagardère Travel Retail in 2006 and has served as Deputy CEO since July 2024. In his new position, he will take on Rasmussen’s day-to-day responsibilities, with Rasmussen taking on a more strategic role.

Lagardère Travel Retail noted Chevalier will be fully responsible for overseeing the company’s worldwide operations, with all Executive Committee members reporting directly to him.

Lagardère Chairman & CEO Arnaud Lagardère said: “Frédéric has played a central role alongside Dag in Lagardère Travel Retail’s transformation over recent years. He was a key architect of the structural integration of the company’s three business lines, a major milestone in the implementation of Lagardère Travel Retail’s long-term strategy.

“His experience over the course of almost 20 years with the company and his widely recognised skills, both internally and externally, makes him the natural choice for this prominent role alongside Dag in steering Lagardère Travel Retail’s continued growth over the years ahead.”

Rasmussen commented: “I am delighted that Frédéric Chevalier has been appointed to join me in leading Lagardère Travel Retail into its next era of growth. Frédéric’s in-depth knowledge of our business, his pivotal role in its transformation and his strong leadership make him uniquely qualified to lead the next phase of our journey — focusing on the next steps, leveraging our strengths, preserving our unique corporate culture, and meeting the challenges of a constantly evolving environment.

“He embodies our commitment to operational excellence and to our founding principles. I know that in his new role he will drive our strategy with clarity, ambition and a deep sense of responsibility toward our teams, our partners and our shareholders.”

Chevalier commented: “I am honoured to take over Dag’s day-to-day responsibilities and to support him closely in leading Lagardère Travel Retail into its new phase of 2/2 expansion. I’m grateful for the trust placed in me by Arnaud Lagardère and Dag and have full confidence in our teams and their ability to deliver on our ambitions.

“While staying consistent in our strategy, we must remain agile, responsive and willing to adapt to change. Our direction is clear: to continue creating value for our partners, and memorable retail and dining experiences for travellers, through a constant drive for excellence.”

Lagardère Travel Retail noted it has been pursuing a bold, pioneering strategy for several years. Over the past decade, revenue has almost tripled, with 2024 seeing another strong performance, marked by a +16% growth in sales.

Over the past year, it has strengthened its European footprint with key contracts in Frankfurt, Hamburg, Belfast and Nice, and was selected as a joint venture partner to operate duty free at Amsterdam Airport Schiphol.

Lagardère Travel Retail’s global expansion has continued with openings in Auckland, Lima, Cotonou, Tirana, Sydney, Antalya, Kigali, Yaoundé, and many other locations.

The company said: “This momentum reflects the strength of Lagardère Travel Retail’s development strategy, the effectiveness of its operational execution, and the dedication of its teams around the world.

“Across all regions and business lines, the company will continue to innovate and to push boundaries, reinforcing its position as a trusted partner to both landlords and brands.”