Lagardere : Conversion of Lagardère SCA into a joint-stock company approved by the shareholders with 99.84% of votes cast. Board of Directors, elected with a large majority by the General Meeting, sets up new governance arrangements with immediate effect.

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Paris, June 30, 2021

Conversion of Lagardère SCA into a joint-stock company approved by the shareholders with 99.84% of votes cast. Board of Directors, elected with a large majority by the General Meeting, sets up new governance arrangements with immediate effect.

The general meetings of the General Partners and the shareholders of Lagardère SCA (the 'Company') held today have approved the conversion of the Company into a joint-stock company with a board of directors as well as the allocation to the General Partners of a total of 10 million new shares as compensation for the loss of their financial and non-financial rights.

The shareholders, representing a quorum of nearly 87%, adopted all 44 resolutions submitted to them with an average of 99.56% of votes cast.

As of today, the Company has therefore adopted the form of a joint-stock company with a board of directors and its corporate name has been changed accordingly to 'Lagardère SA'.
Following the General Meeting, the newly-elected Board of Directors, comprising Virginie Banet (independent director), Valérie Bernis (independent director), Laura Carrere (independent director), Fatima Fikree, Noëlle Genaivre (director representing employees), Pascal Jouen (director representing employees), Arnaud Lagardère, Véronique Morali (independent director), Joseph Oughourlian, Arnaud de Puyfontaine, Nicolas Sarkozy (independent director) and Pierre Leroy (board advisor), met to set up the new governance arrangements for the Company.

The Board decided that the general management of the Company would be conducted by the Chairman of the Board of Directors, and to that effect appointed Arnaud Lagardère as Chairman and Chief Executive Officer for his six-year term of office as director. The Board also appointed Pierre Leroy as Deputy Chief Executive Officer for the same term.

In addition, the Board of Directors adopted its internal rules¹ and appointed the members of the Audit Committee and of the Appointments, Remuneration and CSR Committee.

Accordingly, the members of the Audit Committee are:

• Véronique Morali, independent director, also appointed Chairman of the Audit Committee;
• Virginie Banet, independent director;
• Valérie Bernis, independent director;
• Fatima Fikree.
  

The members of the Appointments, Remuneration and CSR Committee are:

• Virginie Banet, independent director, also appointed Chairman of the Appointments, Remuneration and CSR Committee;
• Laura Carrere, independent director;
• Véronique Morali, independent director;
• Nicolas Sarkozy, independent director.

The Company thanks its shareholders for their confidence in overwhelmingly adopting the resolutions submitted to them and in endorsing the conversion of the Company and its new governance arrangements. This step represents an exciting milestone in the history of the Lagardère group.

The Company would also like to warmly thank all of the members of the Supervisory Board whose terms of office ended today for their remarkable work in the performance of their duties, with rigour, commitment and independence, in the interests of the Group and of all its stakeholders.

The results of the votes on the resolutions submitted to the General Meeting are as follows :

¹ Which will be published on the Company's website.

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Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 28,000 people and generated revenue of €4,439 million in 2020.
In 2018, the Group launched its strategic refocusing around two priority divisions: Lagardère Publishing (Book and e-Publishing, Mobile and Board games) and Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).
The Group's operating assets also include Lagardère News and Lagardère Live Entertainment.
Lagardère shares are listed on Euronext Paris.
www.lagardere.com