Boulogne-Billancourt, August 31st, 2020
A new chapter for Solocal
Eric Boustouller, CEO of Solocal, will leave the Group on 4th October 2020
This decision stems from the discussions between the Debtholders and Solocal in
the context of the financial structure strengthening plan approved by a large
majority of shareholders at the Combined General Meeting of 24th July 2020 and
from the changes in the shareholding structure.
The implementation of this plan, which relies on a EUR347 million capital
increase should enable Solocal to open a new chapter building on its sound
financial structure to create a more performing digital major player.
Without questioning the segregation of roles between the Chairman of the Board
of Directors and the CEO, Pierre Danon, currently Chairman of the Board of
Directors, will take over the leadership, as the Group CEO from the 5th October
2020. Besides, he will oversee the execution of the capital increase which will
occur in September.
The financial terms linked to Eric Boustouller's departure will be set later on
and will disclosed in an upcoming press release from the company.
"These last 3 years were outstandingly intensive in order to achieve the
transformation of this great company. Every day since 2018, once again, I have
been the privileged witness that the firm's strength relies on the women and
men that make up its workforce. I would like to hail the 3,300 employees for
their full & relentless commitment which enabled the turnaround of the business
in order to shape the new Solocal. Thanks to them, despite the unprecedented
crisis, Solocal now has all the required assets to face new challenges. I would
like to praise the Management team who was by my side to lead this exceptional
transformation, through the good and bad times. I shall highlight their
courageous and continuous involvement. I have no doubt about the ability of
this exceptional team to reach new horizons. I wish all the best to this great
company and to all of its staff" said Eric Boustouller.
"I would like to praise the strong commitment and the relevance of Eric
Boustouller' strategic view, which enable to carry out the digital
transformation of the Group and the whole reshaping of its business model, its
organisation, and its products. During these three tough years, Eric worked
untiringly and had a decisive impact in the creation process of the new
Solocal. Today, building on the work we have achieved since 2018, we move
towards a new stage thanks to a sound financial structure which will enable us
to cope with the consequences of the health crisis and unleash the full
potential of the firm" outlines Pierre Danon.
Resignation of Philippe de Verdalle from his mandate & position
Moreover, Mr Philippe de Verdalle, partner of Weinberg Capital Partners & CEO
of Nobel funds, has resigned from his Board Member mandate and its position of
President of the Remuneration and Appointments Committee on 28th August 2020.
Solocal - www.solocal.com
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