Eurazeo announced that the supervisory board had decided on Monday to set up a new management board, appointed unanimously, with two chairmen, Christophe Bavière and William Kadouch-Chassaing, as well as Sophie Flak and Olivier Millet.

In a press release, the group states that the supervisory board and Virginie Morgon have jointly decided for her to step down as chairman and a member of the executive board.

Nicolas Huet, Eurazeo's corporate secretary, and Marc Frappier, in charge of the mid-large buyout activity, have also come to the end of their mandates. The latter will stay in their positions until the end of April 2023, it is stated.

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The purpose of this change of management board is "to accelerate Eurazeo's development towards third-party asset management, to optimise the resource allocation strategy and to continue to improve the company's financial and extra-financial performance for its clients and shareholders".

The positions of chairman of the management board and chief executive officer will be rotated annually, the statement said. The first chairman of the executive board will be Christophe Bavière, the first managing director will be William Kadouch-Chassaing.

The investment company's portfolio includes the American multi-brand sportswear retailer Bandier and the leather goods and travel accessories brand Herschel, as well as the men's skincare brand Pangaea. Eurazeo claims to manage €32.4 billion of diversified assets, including €23.2 billion on behalf of third parties, invested in a portfolio of 530 companies.


With Reuters