The Supervisory Board has unanimously approved the transformation of the company's legal structure, which will be put to a shareholder vote at the next Annual General Meeting on May 29, 2024.

Under the new structure, Arthur Sadoun, currently Chairman of the Executive Board, would become Chairman and Chief Executive Officer of the Board of Directors.

This appointment would be accompanied by the creation of the position of Lead Director and the strengthening of the Board's committees, in line with the AFEP-MEDEF recommendations.

Maurice Lévy, Chairman of the Supervisory Board, would be appointed Honorary Chairman.

In addition to being invited to attend Board meetings, Maurice Lévy would chair a mixed group of directors and executives, responsible for discussions on innovation and foresight.

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