ManoMano's co-founders, Philippe de Chanville and Christian Raisson, are stepping down from their executive roles at the DIY and gardening marketplace, marking a significant leadership transition amid a challenging period for the company.
The founders will remain on the board of directors but are ceding daily operational control. Philippe de Chanville is departing immediately, while Christian Raisson will stay on as an advisor until the end of 2024 to ensure a smooth transition. They will be succeeded by a new leadership duo: Luc Foulquier, previously the Chief Operating Officer, is appointed Chief Executive Officer. He will be supported by Benoît de la Tour d’Artaise, who joins as President after holding senior roles at Carrefour and Kingfisher.
This management overhaul follows a turbulent phase for ManoMano. After reaching a peak valuation of $2.6 billion during its €355 million Series F funding round in 2021, the company has faced mounting pressures. These include a sharp slowdown in the home improvement market post-pandemic, intense competition, and a broader downturn in the tech funding environment. In response, ManoMano implemented a restructuring plan in late 2022, which included cutting approximately 200 jobs.
The company's strategic focus is now shifting towards achieving profitability. Key initiatives include strengthening its core B2C marketplace in its major markets (France, Belgium, Spain, Italy) and accelerating the development of its B2B professional segment, ManoManoPro. The leadership change is presented as a planned evolution to bring in seasoned executives with deep experience in scaling and operational efficiency for this next chapter.
In a joint statement, de Chanville and Raisson expressed confidence in the new team, stating the transition "will allow ManoMano to consolidate its leadership and accelerate its journey towards profitability." The move underscores a common trend in the European tech landscape, where founder-led companies are turning to professional managers to navigate complex market conditions and steer toward sustainable growth.