Abílio Diniz has reportedly joined the board at Carrefour SA.The former chairman of the Brazilian retail chain Grupo Pão de Açúcar will be a board member which was announced at the French retailer’s annual general meeting this month.

In March, Península Participações, the investment vehicle of Diniz’s family, raised its stake in Carrefour which they quoted “This investment is in line with the long-term strategy followed by Península, and reflects the belief in Carrefour S.A.’s growth potential,”

The Diniz family is now Carrefour’s third-largest shareholder.