Lagardère welcomes the decision of the President of the Paris Commercial Court
Corporate & other activities, Finance
Paris, 14 October, 2020
Lagardère SCA notes the decision announced today by the President of the Paris Commercial Court (Tribunal de Commerce de Paris), rejecting the request by Amber Capital and Vivendi to call an extraordinary general meeting.
The Managing Partners and Supervisory Board welcome the Court’s decision, which is in the corporate interests of the Group, whose governance bodies require stability to devote full attention to implementing the new strategic roadmap adapted to managing the Covid-19 crisis.
Lagardère notes that in its decision, the Court notably underlined the perfect legality and appropriateness of re-appointing Arnaud Lagardère as Managing Partner in August, as well as the absence of evidence to support the allegations made by Amber Capital and Vivendi that the members of the Supervisory Board lack independence or a critical approach in performing their duties.
The Managing Partners and the Supervisory Board reiterate their shared desire to remain engaged and to restore constructive and composed dialogue with the shareholders, as well as to maintain a stable governance organisation in the interests of the Group and all of its stakeholders.
Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs over 30,000 people and generated revenue of €7,211 million in 2019.
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.
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