To address the impacts of the COVID crisis, Lagardère SCA announces a new strategic roadmap & sets up a stabilized & reinfor...
17 Août 2020 - 10:24PM
Business Wire
Regulatory News:
Lagardère SCA (Paris:MMB):
Since the beginning of the year, the Managing Partners, in close
coordination with the management of its two divisions, have
assessed the long-term impacts of the COVID-19 crisis on the
dynamics of its underlying markets. The effects of the pandemic
have proven that the strength of the Lagardère group firstly stems
from its diversification and the complementarity of its two
divisions, which together make it better positioned to resist major
downturns.
However, the unprecedented depth of the current crisis has also
highlighted the need to accelerate the development of both
Lagardère Travel Retail and Lagardère Publishing. On 17 August
2020, the Managing Partners presented a new strategic roadmap to
the Group’ Supervisory Board, aiming at :
- allowing Lagardère Travel Retail to emerge stronger from the
crisis, and regain its status of growth engine of the Group through
the implementation of an ambitious operational performance plan and
the progressive adaptation of its concession model towards more
agility and flexibility in its relationship with its commercial
partners;
- confirming Lagardère Publishing’s power engine status, by
strengthening its positions worldwide, in a context where the
publishing sector offers numerous consolidation opportunities in
the short term;
- actively managing the Group’s other activities, primarily made
up of reputable brands, in order to maximise their value for all
stakeholders.
In an uncertain macroeconomic context, the accelerated
development of the two divisions will be supported by greater
managerial agility and a balanced capital allocation policy.
To implement this new strategic roadmap, a stabilized and
reinforced governance team has been put in place :
- A newly created Management Board has been set up. It will be
made up of the members of the current Executive Committee, who will
be joined by Arnaud Nourry and Dag Rasmussen, respectively CEO of
Lagardère Publishing and CEO of Lagardère Travel Retail, and who
will now actively participate in the strategic management the
Group.
- To stabilize the Group’s governance in unprecedented times, to
ensure the implementation of the new strategic roadmap and to offer
visibility to employees, managers and other stakeholders, the
Supervisory Board has approved the renewal of Arnaud Lagardère’s
mandate as Managing Partner of the Group for a period of 4 years,
starting 17 August 2020.
- The Supervisory Board has also reiterated its attachment to the
Lagardère group as an integrated entity, and stated its acute focus
on any attempts to destabilize the Group’s governance or intentions
to dismantle it.
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.
www.lagardere.com
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Press Contacts Thierry
FUNCK-BRENTANO - tel. +33 1 40 69 16 34 - tfb@lagardere.fr Ramzi
KHIROUN - tel. +33 1 40 69 16 33 - rk@lagardere.fr
Investor Relations Contact
Emmanuel RAPIN - tel. +33 1 40 69 17 45 - erapin@lagardere.fr
Image 7 Contact Anne MÉAUX -
tel. + 33 6 89 87 61 76
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