Afin de réaliser des statistiques de visites et d'améliorer l'expérience utilisateur sur notre site, nous mesurons son audience grâce à une solution utilisant la technologie des cookies.

En naviguant sur ce site, vous acceptez l'utilisation des cookies de mesure d'audience. Pour en savoir plus et paramétrer les cookies



We use cookie technology to measure our online audience in order to compile statistics on website visits and improve the browsing experience for our website's users. 
By using our website, you consent to the use of cookies for audience measurements. Click here for more information on cookies and how to set your preferences

French partnership limited by shares

Lagardère is a French partnership limited by shares (société en commandite par actions - SCA) and has two categories of partners:

  • General Partners (Associés Commandités, of which there are two), who are indefinitely personally liable for the Company's debts; and
  • Limited Partners (Associés Commanditaires, or shareholders), whose situation is the same as that of shareholders in a joint-stock corporation (société anonyme): they are liable for the Company's debts only to the extent of their contribution to the partnership. Members of the Supervisory Board are appointed by the Limited Partners alone, and General Partners may not take part in the vote.

Because of the two categories of partners, collective decisions require consultation of the shareholders at General Meetings, and of the General Partners.

The Managing Partners are responsible for running the Company under the oversight of the Supervisory Board, which represents the shareholders.


French partnerships limited by shares provide for a clear separation of powers between management (Managing Partners and General Partners) and supervisory bodies (Supervisory Board).

Members of management may not also be members of the Supervisory Board.

Furthermore, Lagardère SCA encourages the management bodies to run the Company responsibly and prudently with a long-term perspective. Since the Managing Partners are also General Partners, they have indefinite liability for the Company's debts.


Lagardère SCA has adapted its Articles of Association to enhance shareholders' rights by granting them specific powers:

Veto on the appointment of Managing Partners

The Supervisory Board, which represents the shareholders, must give its consent to the appointment of the Managing Partners by the General Partners.

In the event of any unresolved disagreements between the General Partners and the Supervisory Board, the shareholders have the ultimate say in the General Meeting.

Right of approval in the event of a change of control of Arjil Commanditée-Arco (General and Managing Partner)

The Supervisory Board must give its prior approval for:

  • any transfer, sale or issue of shares resulting in a change of control of Arjil Commanditée-Arco, unless the transaction is accompanied by a valid takeover bid for all of Lagardère SCA's shares;
  • any new shareholders in Arjil Commanditée-Arco.


Annual General Meeting 2021

Wednesday, June 30, 2021 - 10:00 a.m CET

First-half 2021 results

Thursday, July 29, 2021

Arnaud Lagardère Editorial

"2019 was a year of transformation and refocusing for the Lagardère group.
Our strategy is now concentrated on two priority areas: Lagardère Publishing, our power engine, and Lagardère Travel Retail, our growth engine. ..."
Learn more

The group's activities

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.

Under the impetus of the Group's General and Managing Partner, Arnaud Lagardère, in 2018, the Group launched a strategic refocusing around two priority divisions: Lagardère Publishing and Lagardère Travel Retail.

Learn More

Financial information

The group's financial results, stock price, latest news, the calendar of upcoming events... Access all financial information related to Lagardère.