French retail giant Carrefour SA (CRERY, CA.FR) executive committee member Guy Yraeta, head of the company's European operations outside of France and who was spearheading efforts to revamp the company's hypermarket stores, is leaving the company, according to an internal document seen by Dow Jones Newswires.

A Carrefour spokeswoman confirmed Yraeta's departure but declined to comment on his possible replacement.

Yraeta, who has worked for the company for 33 years and who was also in charge of the company's hypermarket-restructuring project, is the second person working on the company's hypermarkets to leave in less than a month.

Chief Financial Officer Pierre Bouchut in October said the company had decided to replace the head of the French hypermarket business, Alain Souillard, with Guillaume Vicaire, who currently heads the company's Turkish operations, for reasons "you can read in the figures," and to improve the performance of the sprawling out-of-town stores. Bouchut's comments came after the company had reported 7% drop in French hypermarket sales over the third quarter.

Revamping the oversized, box-like stores that sell everything from groceries to television sets is key to Chief Executive Lars Olofsson's efforts to turn around the group. He joined Carrefour from Nestle SA (NSRGY, NESN.VX) earlier this year with the mandate of reviving the retail giant, which has suffered from slumping consumption on its home front, in France and in Europe. The company's hypermarkets face competition from smaller, specialty stores in urban settings.

Carrefour will review proposals for its hypermarkets by the end of the year before deciding what model to adopt and begin implementing next year.

According to the document, until Yraeta's replacement is appointed, managers in charge of operations in Belgium, Italy, Spain and Poland will report directly to CEO Olofsson; Philippe Broianigo will head the hypermarket-revamping project.

Guy Yraeta couldn't be reached for comment.

Separately, an Indonesian court Tuesday ordered the retailer to sell its stake in PT Alfa Retailindo (ALFA.JK) and pay a $2.5 million fine for violating the country's anti-monopoly rules.

Carrefour shares closed up 1.2% at EUR29.80 Tuesday. The stock is up 8% year-to-date but down 11% from year-ago levels.

-By Mimosa Spencer, Dow Jones Newswires; +33-1-40-17-17-73; mimosa.spencer@dowjones.com