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• Tangible growth in attributable net profit (8.6%) and EPS (up 12.2%)
• Moderate 4.5% decline in trading profit (down 2.5% organic)
• Significant reduction in net debt at €4,072m (from €4,851m at end-2008)
  
  • Improvement in free cash flow generation to €701m
  • €1bn asset disposal target for end-2010 already two-thirds met
• Improvement in net debt/EBITDA ratio to 2.2x
• €2.65 ordinary dividend recommended (up 4.7%)
  

• Target of net debt/EBITDA ratio of less than 2.2x confirmed at end-2010
• A stronger sales dynamic in France
  
  • More competitive prices by reinvesting purchasing gains
  • Faster expansion in the convenience and discount formats
• Stepped-up growth in international markets
  • Sustained expansion, notably in Brazil and Vietnam

“In a difficult economic environment, Casino recorded solid results in 2009 while significantly improving its financial flexibility,” said Jean-Charles Naouri, Chairman and Chief Executive Officer of Casino. “Far-reaching action has been taken by our teams over several years to establish the Group in the most promising retail formats and geographic markets, and this action is continuing to pay off. Our leadership positions, solid fundamentals and expansion programmes position the Group for growth and market share gains in 2010 and beyond.”

KEY FIGURES
(Audited financial statements)

Casino’s 2009 results demonstrated its business model’s resilience in an unfavourable economic environment.
Sales were stable on an organic basis excluding petrol (and down 1% including petrol), reflecting the resilience of convenience formats in France and sustained growth in international markets. EBITDA and trading margins were stable on an organic basis thanks to margin improvement in international markets and the rapid deployment of cost-reduction plans.

RESILIENT PERFORMANCES BY CONVENIENCE FORMATS IN FRANCE

In France, sales declined by 3.8% on an organic basis, or 2.7% excluding petrol. Convenience formats held up well, thereby demonstrating their good fit with consumer expectations. Cdiscount recorded double-digit sales growth, consolidating its leadership in the French B-to-C e-commerce market.
Trading profit was down 11.1% as reported and 9.7% on an organic basis. Trading margin held up well (dipping 30 bp on an organic basis), reflecting the favourable mix of formats and the rapid deployment of the cost-reduction program.

• Sales in convenience formats were down 1.7% on an organic basis (excluding petrol). Sales were stable at Casino Supermarkets (excluding the effect of affiliate contract terminations) and Monoprix. Superettes sales declined by 4.1% under the impact of the ongoing optimisation of the store base. Convenience trading margin remained high at 4.9%.
• Same-store sales at Franprix were stable, attesting to the attractiveness of the banner, which also benefited from its successful new store concept. As for the discount sector, Leader Price was adversely affected by customers’ scaled-back spending. Firm total sales at Franprix-Leader Price (down 1.4% on an organic basis) reflected both banners’ faster expansion during the year. Trading margin remained solid at 6.1%, despite a 9.1% decline in same-store sales at Leader Price.
• In a more competitive business environment, Géant Casino pursued its controlled marketing strategy in food and continued to reposition its non-food offer. Tight control over costs partially offset the impact of lower sales on trading margin, which stood at 2.1%.
• The other businesses (Retail property, Cdiscount, Banque Casino, Casino Restauration) enjoyed sustained organic growth in sales (up 6.8%), led by Cdiscount’s strong performance. The 36.2% increase in trading profit was led by Mercialys (boosted by transfers of assets from Casino) and by retail-related businesses.

GOOD PERFORMANCE IN INTERNATIONAL MARKETS

Sales ininternational markets rose by a robust 6.7%, led by sustained 4.9% organic sales growth and Ponto Frio’s consolidation by GPA (Grupo Pao de Açucar).
Trading profit rose by 12% (15% on an organic basis), reflecting solid sales growth and effective cost-cutting plans.

• Sustained sales growth in South America (up 5.7% on an organic basis) was led by an excellent performance in Brazil, where same-store sales rose by a very strong 12.7%*. GPA crossed a major strategic milestone during the year with the acquisition of Globex (Ponto Frio) and the partnership with Casas Bahia’s retail operations. This made GPA the undisputed leader in consumer electronics and household appliances and strengthened its position as Brazil’s N°1 retailer. Trading margin for the region was down 40 bp on a reported basis to 3.8%, due to the impact of Ponto Frio’s consolidation and margin decline in Venezuela. Excluding Venezuela, trading margin in South America rose by 28 bp on an organic basis, reflecting sharply higher profitability in Brazil.
• In Asia, organic growth in sales was a solid 5.1%, lifted by sustained expansion in Thailand in 2008 and very strong advances in same-store sales in Vietnam. Trading profit was up a sharp 13.7% (12.1% on an organic basis). Trading margin improved by a significant 34 bp to 5.4%, led by both Vietnam and Thailand.

 * Data published by the company

IMPROVED OPERATING EFFICIENCY
ENHANCED FINANCIAL FLEXIBILITY

The rapid deployment of action plans enabled the Group to significantly improve its operating efficiency:

• Cost and inventory reduction targets were exceeded
• Capex was effectively managed

The Group enhanced its financial flexibility thanks to:

• Significant improvement in free cash flow generation
• Completion of two-thirds of the asset disposal program
• Successful Exito rights issue and renegotiation of the Carulla put

Net debt was reduced substantially to €4,072 million at year-end 2009 (from €4,851 million one year earlier) and the net debt/EBITDA ratio was brought down to 2.2x (compared with 2.5x at 31 December 2008).
The Group’s liquidity position was strengthened through the issue of €1.5 billion in bonds during the year. The February 2010 bond exchanges improved the Group’s debt profile and lengthened maturities.

At the Annual General Meeting on 29 April 2010, shareholders will be asked to approve the payment of a dividend of €2.65 per ordinary share, an increase of 4.7%. The dividend will be paid from
10th May 2010.

OUTLOOK AND CONCLUSION

Casino has strong fundamentals to drive future growth:

• A favourable business mix in France weighted towards convenience and discount formats and N°1 ranking in B-to-C e-commerce.
• Leadership in private-label in France.
• Top-ranking positions in international high potential markets.
• Recognized expertise in leveraging property assets to create value.

The Group will continue to improve its operating efficiency through ongoing cost and inventory reductions and a selective investment strategy.
Casino will pursue its €1 billion asset disposal programme and confirms its target of a net debt/EBITDA ratio of less than 2.2x at end-2010.

In France, Casino intends to strengthen market share by improving the banners’ price competitiveness through the reinvestment of purchasing gains and faster expansion of the convenience and discount formats.
Internationally, the quality of the Group’s assets in high potential markets should drive strong and profitable business growth in 2010.

Wednesday, 14 April (after the close of trading): First-quarter 2010 sales announcement
Thursday, 29 April: Annual General Meeting
Thursday, 29 July 2010 (before the market opens): Second-quarter 2010 sales and first-half results

2009 RESULTS (Audited financial statements)

APPENDIX

Underlying profit corresponds to profit from continuing operations adjusted for the impact of other operating income and expense (as defined in the “Significant Accounting Policies” section of the notes to the consolidated financial statements), non-recurring financial items and non-recurring income tax expense/benefits.
Non-recurring financial items include fair value adjustments to certain financial instruments whose market value may be highly volatile. For example, fair value adjustments to financial instruments that do not qualify for hedge accounting and embedded derivatives indexed to the Casino share price are excluded from underlying profit.
Non-recurring income tax expense/benefits correspond to tax effects related directly to the above adjustments and to direct non-recurring tax effects. In other words, the tax on underlying profit before tax is calculated at the standard average tax rate paid by the Group.
Underlying profit is a measure of the Group’s recurring profitability.

Press Contacts
Caroline Simon, +33 (0)1 53 70 74 65, caroline.simon@image7.fr
Karine Allouis, +33 (0)1 53 70 74 81, kallouis@image7.fr

Investors Contacts
Nadine COULM, +33 (0)1 53 65 64 17, ncoulm@groupe-casino.fr
Aline NGUYEN, +33 (0)1 53 65 64 85, anguyen@groupe-casino.fr

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 Download the presentation shown during the information meeting

Casino today successfully completed its offer, launched on 26 January, to exchange its notes due 2012 and 2013.

In exchange, Casino issued new notes in an amount of €888 million due February 2017 and paying interest equivalent to the Mid-Swap rate plus a spread of 135 bps.

The exchange offer was highly successful, with qualifying holders tendering around €1.5 billion in notes, or almost twice the maximum acceptance amount.

It has reduced debt repayments due 2012 and 2013 by, respectively €440 million and €354 million, thereby improving the Group’s debt profile and lengthening maturities.
The offer was managed by BNP Paribas, Calyon, JP Morgan, Natixis, RBS and Société Générale.

Saint-Etienne, 3 February 2010

Press Contacts
Caroline Simon, +33 (0)1 53 70 74 65, caroline.simon@image7.fr
Karine Allouis, +33 (0)1 53 70 74 81, kallouis@image7.fr

Investors Contacts
Nadine COULM, +33 (0)1 53 65 64 17, ncoulm@groupe-casino.fr
Aline NGUYEN, +33 (0)1 53 65 64 85, anguyen@groupe-casino.fr
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Saint-Etienne, France – June 23, 2010 – The Casino Foundation is initiating its first program to combat the loneliness experienced by children hospitalised through a partnership with the Children’s Hospital of Margency and the Docteur Souris Association.

The Casino Foundation, founded in 2009 at the initiative of Jean-Charles Naouri, is committed to helping counter the feelings of isolation and loneliness of hundreds of hospitalised children. In partnership with the Association Docteur Souris, founded in 2003, the Foundation will equip the paediatric wards of three hospitals with laptop computers to provide young patients with access to information technologies and communications capabilities.

The donation – which includes a hundred laptops as well as support and maintenance services – will enable the children to communicate with family and friends, receive tutoring and access electronic entertainment. This long-term program also is part of the teaching program developed by the hospital for its young patients.

The Children’s Hospital of Margency in the Val d’Oise (Ile-de-France region), an institution run by the French Red Cross, is the first site chosen by the Casino Foundation for the program’s deployment. Approximately 100 children suffering from serious illness receive care at the hospital, often remaining for months at a time. The hospital’s school, the visiting parent’s house, children’s rooms and recovery rooms will be equipped with the laptops provided by the Casino Foundation. In addition, the Foundation will provide for the training of teams in the use of software programs and weekly professional maintenance services.

In coming months, the program will be extended to the Timone-Enfants University Hospital Centre in Marseille and the paediatric units of the Saint-Etienne University Hospital Centre.

These projects are central to the Casino Foundation’s mission, which focuses the philanthropic actions of the Casino Group and its subsidiaries — in France and other countries where it operates — on the priority of helping disadvantaged children.

Jean-Charles Naouri, Casino Chairman and CEO of Groupe Casino, said: “Our intention is to offer children from the most disadvantaged backgrounds the means to acquire the knowledge and the ability to understand the world in which they live, enabling them to look ahead to their future. Through the Casino Foundation, we hope to help awaken the potential of children in need and to contribute to their development. The decision by Casino employees that the Foundation’s first action should be to support the work of Docteur Souris and the Hospital Margency speaks to our shared values of mutual support and involvement with our community.”

Consolidated net sales rose by 2.2% on a reported basis in the fourth quarter of 2009. Changes in the scope of consolidation had a 1.5% positive impact, as the consolidation of Ponto Frio by Grupo Pão de Açúcar from 1 July 2009 largely offset the impact of the deconsolidation of two Franprix-Leader Price franchisees. The sharp increase in the Brazilian real and appreciation of the Colombian peso offset declines in the Thai baht, Argentine peso and Venezuelan bolivar fuerte, resulting in a positive currency effect of 0.6%.
Petrol sales had a slightly positive impact of 0.3% during the period, while the calendar effect was neutral for the Group as a whole.
Organic sales excluding petrol were stable, an improvement over the 0.9% decrease reported in the third quarter of 2009.

In France, sales were down 2.7% on an organic basis excluding petrol, versus a 3.2% decline in the third quarter.

–  The convenience formats continued to demonstrate good resilience, with Casino Supermarkets, Monoprix and Franprix reporting stable total sales over the period.

–  Cdiscount maintained solid sales growth over the period. Sales grew double-digit over the full year, consolidating the company’s lead in online B to C sales in France. In all, Cdiscount reported over 1 billion euros in sales including VAT in 2009.

–  Géant Casino’s performance tracked the trend observed in the first nine months. The banner pursued its controlled marketing strategy, as reflected in moderate promotional activity and further targeted price cuts.

–  The trend in same-store sales at Leader Price was on a par with the previous quarter. The entire discount sector continued to suffer from scaled-back spending by its traditional customer base, which has been harder hit by the recession.

International operations reported a faster 4.8% increase in organic growth, up from 3.5% in the third quarter.

–  In South America, organic growth came to a robust 4.9%, lifted by a continuing strong growth in same-store sales in Brazil (14.1%). The sales trend improved in Colombia, offsetting weaker business in Venezuela.

–  In Asia, sales improved tangibly, up 6.7% on an organic basis after declining 0.9% in the third quarter, reflecting a recovery in same-store sales in Thailand and very strong growth in Vietnam.
International operations, which accounted for 37% of consolidated sales over the period, confirmed their role as a growth driver.

Consolidated sales for full-year 2009 were stable on an organic basis excluding petrol, a performance reflecting the good positioning of the business portfolio:

–  A mix heavily weighted towards convenience and discount formats, which are both promising and profitable,

–  An unrivalled presence in urban convenience stores,

–  Leadership in online non-food sales,

–  An international presence focused on high potential countries.

In a difficult economic environment, the Group stepped up deployment of action plans to enhance the shopper appeal of its banners and increase its operating efficiency.
The Group is in line with its objectives in terms of cost savings, inventory reductions and capital expenditure discipline.
Financial flexibility will be enhanced by the improvement in free cash flow(1) generation and the €1 billion asset disposal programme to be implemented by the end of 2010. With the sale of Super de Boer and real estate assets, more than half of the programme had been completed at the end of 2009.

The Group therefore confirms its objective of improving the net debt/EBITDA ratio at the end of 2009 and of reducing the ratio to less than 2.2x by the end of 2010.

The full-year results will be published on 4 March 2010.

(1)Free cash flow = current operating cash flow before tax, less capital expenditure, changes in WCR, income tax paid and net interest paid

Sales in France declined by 3.3% during the quarter. Changes in the scope of consolidation (mainly the deconsolidation of two Franprix–Leader Price franchisees at end 2008) reduced growth by 1.1%, while petrol sales had a positive 0.4% impact.
On an organic basis and excluding petrol, sales were down 2.7% over the period. Part of the decline was due to the termination of affiliate contracts, mainly with Coop de Normandie, which had a 0.6% negative impact on sales growth.

(1) International Financial Reporting Standard IFRS 8 “Operating Segments” and IFRIC Interpretation 13 “Customer Loyalty Programmes” have been applied by the Group from 1 January 2009. 2008 data were adjusted accordingly (see details in appendix)
(2) Negative impact of affiliate contract terminations: respectively 1.3% on hypermarket sales and 1.3% on Casino Supermarkets sales in Q4 2009, and 1.3% on hypermarket sales and 1.3% on Casino Supermarkets sales for the full year 2009.

Franprix-Leader Price

Same-store sales contracted by 1.2% at Franprix. Footfalls were stable during the period, reflecting the banner’s shopper appeal, which was further enhanced by the deployment of the new concept that has delivered very satisfactory results (double-digit growth in renovated stores). The banner accelerated expansion with 41 stores opened during the fourth quarter, for a total of 92 new outlets over the full year (of which 80 openings and 12 conversions).

Same-store sales at Leader Price tracked third-quarter trends, declining 11%. The entire discount retailing segment continues to be penalized as its traditional customers cut back on spending, leading to further declines in the average basket.

Leader Price opened 22 stores during the period, compared with 27 over the first nine months. The banner also continued to rationalize its store network by closing nine stores and transferring five urban outlets.
Led by the banner’s sustained expansion, Leader Price market share trend improved at the end of the year, to hold steady in the fourth quarter. The banner price competitiveness will be further enhanced as the banner will reinvest purchasing gains resulting from the pooling of the Group’s private labels.

In all, and excluding the impact of deconsolidating two franchisees, Franprix-Leader Price sales ended the period down 2.6%.
The two banners will step up their expansion, which will continue to be a significant growth driver.

Hypermarkets

Géant Casino same-store sales declined by 6% excluding petrol during the quarter. The average basket was stable (down 0.2%) and footfalls contracted by 5.8%.

Food sales were down 5.1%. In a more competitive environment, Géant Casino carefully calibrated its promotional strategy to give priority to permanent price cuts. In 2010, the banner will step-up this targeted price-cut policy thanks to the purchasing gains resulting from the pooling of the Group’s private labels and to the partial shift in promotional resources.

Non-food sales were down by 7.8%, a more limited decline versus the first nine months (down 10.4%), with apparel and multimedia leading the improvement.

Géant Casino will continue in 2010 to optimise capital employed by reducing selling space and repositioning its offer on the highest revenue and margin categories, such as apparel, home and leisure.

Convenience stores

Supermarkets
Casino Supermarkets’ same-store sales declined by 3.4% excluding petrol, versus a 4.4% decline in the third quarter. The average basket shrank by 1.7%, in line with the previous quarter. Footfalls were down just 1.8% compared with a decline of 2.6% in the third quarter, reflecting the effectiveness of the banner’s marketing initiatives.
Total sales excluding petrol decreased by 2.1% over the period.
Market share held firm during the quarter and over the year as a whole.

Monoprix
Monoprix’s same-store sales recorded a tangible improvement, easing back just 0.6% in the last three months of the year, compared with a 2.7% decline in the third quarter, driven by a good performance in apparel and satisfactory food sales. As these results show, the banner is reaping the rewards of its differentiated positioning.
Total sales increased by 0.4% over the quarter.

Superettes
Superette sales declined by 5%. The store base was further optimised during the period, with 186 openings and 114 closures.

Other businesses
Cdiscount enjoyed solid sales growth in the fourth quarter and reported a double-digit increase over the full year. This good performance reflected the company’s very attractive price positioning and fast market response. Cdiscount has also successfully developed new offerings – including apparel, footwear, wine and travel – as well as new services, such as video on demand. All of these factors have enhanced the banner’s leadership in online B to C sales in France.

Casino Restauration reported another quarter of growth, confirming the improved trend observed in the third quarter.

In all, sales by the other businesses rose by 5.7%.

International sales rose by 13.4% in the fourth quarter. Changes in the scope of consolidation had a positive impact of 6.8%, primarily reflecting the consolidation of Ponto Frio by Grupo Pão de Açúcar from 1 July 2009. The currency effect was a positive 1.8%, due to the sharp increase in the Brazilian real and the appreciation of the Colombian peso against the euro, partially offset by the decline in the Venezuelan, Thai and Argentine currencies.

Organic growth stood at 4.8%, versus 3.5% in the third quarter, reflecting strong momentum in South America (up 4.9%) and a significantly improved trend in Asia (up 6.7% after falling 0.9% in the third quarter). Operations in the key countries (Brazil, Colombia, Thailand and Vietnam) all reported higher sales.

Operations in South America continued to deliver robust same-store sales, which gained 3.8% during the period.
Same-store sales for GPA in Brazil continued to grow at a strong pace (up 14.1%), both in food and non-food, reflecting the company’s effective marketing strategy. Total sales in Brazil increased by 44.6%*, lifted by the consolidation of Ponto Frio. The joint venture between Globex (Ponto Frio) and Casas Bahia’s retail activities has made GPA the unrivalled leader in the household and electronic appliances market, with a market share of 26%, and strengthened its position as Brazil’s top-ranked retailer.

In Colombia, Exito’s same-store sales trend improved noticeably, reflecting successful marketing campaigns during the period. Two hypermarkets were opened in the fourth quarter.

Sales in Venezuela slumped in the fourth quarter against a backdrop of economic recession and currency crisis.

In Asia, same-store sales rose 4.5% after declining 5.2% in the third quarter thanks to a sharp upturn in sales at Big C in Thailand and very strong growth in Vietnam. In all, sales in Asia grew by a sustained 6.7% at constant exchange rates.

Operations in the Indian Ocean performed satisfactorily, both on a same-store basis (down 0.6%) and on an organic basis (up 0.6%).
* data published by the company

Main changes in the scope of consolidation

• Deconsolidation of two franchisees in the Franprix-Leader Price sub-group as of end December 2008.
• Consolidation of Ponto Frio by GPA since 1 July 2009.
• A subsequent capital increase by GPA, which had the effect of reducing Group Casino’s stake from 35.0% at end June 2009 to 33.7% as of 21 September 2009.
• Following Exito’s share issue and renegotiation of the put option on Carulla Vivero, Casino’s interest in Exito declined from 61.2% to 54.8% at 31 December 2009.
• Super de Boer was sold in late 2009. In accordance with International Financial Reporting Standard IFRS 5 “Non-Current Assets Held for Sale and Discontinued Operations”, the company’s sales have been recognised under “Discontinued operations” since 1 January 2009.

* Sales in Venezuela were translated with the official 2009 exchange rate. In light of the devaluation in January 2010, 2010 sales in the region will be translated at the 2010 exchange rate.

Appendix: Application of IFRS 8 and IFRIC 13
International Financial Reporting Standard 8 “Operating Segments” and IFRIC Interpretation 13 “Customer Loyalty Programmes” were applicable by the Group as from January 1st 2009. This has resulted in two changes in accounting method, with 2008 data adjusted to reflect retrospective application for comparison purposes.

• IFRS 8 replaced IAS 14 “Reporting Financial Information by Segment.” While the standard does not have any impact on the Group’s performance or financial situation, it has led to a change in the way the reported data are presented. In practice, the main change in the 2008 sales figures concerns the presentation of net sales to external customers, primarily by Easydis, which are now recognised in “Other businesses” instead of being allocated among the various French banners as previously.
• IFRIC Interpretation 13 requires entities to recognise the fair value of the consideration granted to customers under loyalty programmes (such as award credits or purchase coupons) as a separately identifiable component of the sales transaction in which they are granted. In practice, this leads to revenue being reduced at the time of the grant and increased when the award credits are redeemed. Until 2008, the cost of these loyalty programmes was deducted from trading profit.

*Adjusted to take into account the consolidation of Naturalia.

*Adjusted to take into account the consolidation of Naturalia.

Press Contacts
Caroline Simon, +33 (0)1 53 70 74 65, caroline.simon@image7.fr
Karine Allouis, +33 (0)1 53 70 74 81, kallouis@image7.fr

Investors Contacts
Nadine COULM, +33 (0)1 53 65 64 17, ncoulm@groupe-casino.fr
Aline NGUYEN, +33 (0)1 53 65 64 85, anguyen@groupe-casino.fr

 Download the press release

Investor Relations :

Nadine Coulm / +33 (0)1 53 65 64 17
ncoulm@groupe-casino.fr

Aline Nguyen / +33 (0)1 53 65 64 85
anguyen@groupe-casino.fr

Image 7 :

Karine Allouis / 01 53 70 74 81
kallouis@image7.fr

Priscille Reneaume / 01 53 70 74 61
preneaume@image7.fr

40 years old, former student of ENA, IEP Paris and HEC graduate, Arnaud Strasser is appointed Director of Corporate Development and Holdings of the Casino Group, member of the Executive Committee.

He follows on from Hakim Aouani who will be developing other activities in mergers–acquisitions and capital investment by creating his own consultancy office.

Arnaud Strasser joined the Casino Group in 2007 as advisor to the Chairman in charge of international development.

After being Head of the Inland Revenue from 1996 to 2002, he joined the minister of Children and Family Affairs’ cabinet as advisor in charge of economic and financial affairs, then as Director of the cabinet from 2004.

In 2005 he joined the ministry for SMEs as special advisor, then cabinet director.

Press contact: Caroline Simon, +33 (0)1 53 70 74 65, caroline.simon@image7.fr

Bernard Petit appointed Deputy Finance Director of the Casino Group

49 years old, holder of a “DESCF” (Master’s level diploma in accountancy), Bernard Petit is appointed Deputy Finance Director, more specifically in charge of accounts and taxation on Group level. He reports to Antoine Giscard d’Estaing, Casino Group’s Finance Director.

Bernard Petit has dedicated his entire career to the Casino Group’s Finance Division since joining in 1983. Since 1997 he has been in charge of the accounts division, financial control and the “Overheads” central buying department.

Camille de Verdelhan appointed Finance Director of Casino France

32 years old and a HEC graduate, Camille de Verdelhan is appointed Finance Director of Casino France (Casino hypermarkets – supermarkets division, proximity branch, Easydis, CIT, EMC Distribution). She reports to Antoine Giscard d’Estaing, Group Finance Director.

Camille de Verdelhan started her career in 2000 as studies coordinator at the Rallye Investment Centre, before becoming a Project Coordinator in the Finance Division.

In 2005 she joined the Casino Group where she was successively Project Coordinator to the Chairman‐Chief Executive Officer, Deputy Director, then Strategy and Plan Director and secretary of the Executive Committee.