The Supervisory Board, as part of its succession plan for Klépierre management, held a meeting on November 7, 2016 and unanimously decided to promote Jean-Marc Jestin, current member of the Executive Board, to the role of Chairman of the Executive Board, with effect from the date hereof, thus replacing Laurent Morel. The transition is part of the Supervisory Board's succession plan that included Jean-Marc Jestin's appointment as Chief Operating Officer and member of the Executive Board of Klépierre in 2012. The Group will continue to be under the management of an Executive Board, which will now be composed of Jean-Marc Jestin and Jean-Michel Gault, Deputy CEO.