- Elior becomes today a new global leader in contract catering
and multiservices with approximately 134,000 employees.
- The combined shareholders’ meeting held today approved the
acquisition of Derichebourg Multiservices by more than
99%.
- This acquisition strengthens the strategic and financial
position of Elior Group:
- Debt deleveraging from 8.3x to 6.2x on a pro forma basis at
the end of September 2022;
- At least €30 million in annual recurring EBITDA synergies by
2026.
- The shareholder meeting also approved Elior Group's new
governance structure, reflecting the enhanced position of
Derichebourg SA as the reference shareholder, while also providing
independent directors a strengthened role in approving
decisions.
- The Board of Directors, which met following the shareholder
meeting, appointed Daniel Derichebourg as Chairman and CEO of Elior
Group, replacing Bernard Gault.
- Daniel Derichebourg has appointed Didier Grandpré as Chief
Financial Officer of Elior Group and member of its Executive
Committee, replacing Esther Gaide who decided to leave the Group to
focus on non-executive positions.
Regulatory News:
Bernard Gault, the departing Chairman and CEO of Elior
Group (Paris:ELIOR), commented: "I would like to
thank our shareholders for massively approving the Derichebourg
Multiservices acquisition as well as the in-depth transformation of
Elior’s governance. I would also like to thank Gilles Auffret, Lead
Independent Director, Esther Gaide, Chief Financial Officer, who is
departing today and to whom I extend my gratitude, and to all the
employees and advisors who, through their strong engagement,
demonstrated unwavering determination to the company. Having
accomplished the missions entrusted to me, I will now pass the
baton to Daniel Derichebourg, a great leader and entrepreneur. With
confidence, I wish him and all of Elior's teams great success.”
Daniel Derichebourg, Chairman and CEO of Elior Group,
said: "I would like to thank Bernard Gault for steadily leading
Elior through this challenging period of market transformation.
With this major transaction, we are strengthening Elior's strategic
and financial profile, bringing new expertise, growth opportunities
and renewed momentum.
Starting tomorrow, I will be meeting with the teams and will be
committed to implementing the values that have continuously guided
my professional life: proximity in exchanges, having a
customer-centric mindset and being profitable in order to grow and
reduce debt.”
Gilles Auffret, Lead Independent Director of Elior Group,
added: "Elior Group is now equipped with a governance structure
aligned with its new shareholder base and adapted to face future
challenges. This will enable Derichebourg SA, the reference
shareholder, to work cohesively with all other shareholders in
order to accelerate the Group's turnaround.”
The combined shareholders’ meeting (ordinary and
extraordinary) of Elior Group (the “shareholder meeting”) took
place on Tuesday, April 18, 2023, at 10:00 a.m. at Maison de
l’Amérique latine, 217 boulevard Saint Germain, 75007 Paris.
The shareholder meeting was streamed live on Elior Group’s website
and a recording of the webcast is available on the website.1
The overall quorum amounted to 73.2% and 64.6% for the first two
resolutions; 1,132 shareholders participated in person or remotely.
Detailed voting results are available on Elior Group’s website at
www.eliorgroup.com, under Investors/Annual Shareholders’
Meeting.
Within the scope of the extraordinary general meeting,
shareholders expressed broad support for all the resolutions
proposed by Elior Group's Board of Directors to approve the
acquisition of Derichebourg Multiservices, in particular:
Approval of the contribution by Derichebourg SA of
Derichebourg Multiservices Holding shares to the company;
The creation of 80.156.782 new shares issued to Derichebourg
SA in consideration for the contribution, enabling Derichebourg SA
to increase its stake in Elior Group from 24.32% to 48.31%;
Amendments to the bylaws in connection with the completion of
the contribution.
As a result of the acquisition of Derichebourg Multiservices,
Elior Group becomes a global leader in contract catering and
multiservices. Through the complementary nature of Elior's and
Derichebourg Multiservices' activities, the Elior Group
significantly enriches its offer in a highly attractive services
sector, expands its customer base and increases its territorial
coverage, particularly in France, as well as its European and
global footprint.
Within the scope of the ordinary general meeting,
shareholders also approved all the resolutions proposed by
Elior Group's Board of Directors to renew the group's
governance:
Election of Daniel Derichebourg as Director;
Election of Dominique Pélabon as Director;
Re-election of Gilles Cojan as Director;
Election of Sara Biraschi-Rolland as independent director;
Election of Denis Gasquet as independent director.
In conjunction with the completion of the acquisition of
Derichebourg Multiservices, a new governance structure has been
implemented, in line with the highest standards in terms of balance
and independence in the long term, enabling all stakeholders to
benefit from the Elior Group’s development and success.
As a reminder, the key points of this new long-term
governance are the following:
A Board of Directors made up of 12 qualified members,
including five representatives of Derichebourg SA, five
independents and two employee representatives;
A reinforced majority of eight out of 12 directors, with a
majority of independent directors required for the most important
decisions;
A selection process for independent directors conducted
exclusively by independent directors;
A limit on Derichebourg SA's voting rights to 30% at Annual
General Meetings on any resolution concerning independent
directors;
A commitment by Derichebourg SA to maintain its equity stake
at 48.3%.
Following the shareholder meeting, the Board of Directors met
and appointed Daniel Derichebourg as Chairman and CEO of Elior
Group, replacing Bernard Gault.
The composition of Elior Group's Board of Directors is
now as follows:
Daniel Derichebourg, Chairman and Chief Executive Officer of
Elior Group;
Abderaman El Aoufir, director representing Derichebourg
SA;
Catherine Ottaway, director representing Derichebourg
Environnement;
Dominique Pélabon, director appointed upon proposal of
Derichebourg SA;
Gilles Cojan, director renewed upon proposal of Derichebourg
SA;
Gilles Auffret, lead independent director;
Sara Biraschi-Rolland, independent director;
Denis Gasquet, independent director;
Inés Cuatrecasas, independent director representing Emesa
Private Equity;
Virginie Duperat-Vergne, independent director representing
FSP;
Rosa Maria Alves, director representing the employees;
Luc Lebaupin, director representing the employees.
Daniel Derichebourg has appointed Didier Grandpré as Chief
Financial Officer of Elior Group, who joins the Executive
Committee, replacing Esther Gaide. Didier Grandpré’s area of
responsibility remains the same as Esther Gaide's, with the
exception of legal and compliance functions, which are under the
responsibility of Thierry Thonnier, Group Legal and Compliance
Director, who now reports directly to Daniel Derichebourg.
The Board of Directors also ratified the composition of its
various committees, which are as follows:
Nominations and Compensation
Committee
Gilles Auffret, Chairman;
Rose-Marie Alves;
Inès Cuatrecasas;
Abderrahmane El Aoufir;
Denis Gasquet.
Audit Committee
Virginie Duperat-Vergne, representing FSP, Chairwoman;
Gilles Auffret;
Gilles Cojan.
Social and Environmental Responsibility
Committee
Denis Gasquet, Chairman;
Sara Biraschi-Rolland;
Luc Lebaupin ;
Catherine Ottaway.
Bios
Daniel Derichebourg was, until now, Chairman and CEO of
Derichebourg SA. He announced that he is resigning from his
position as CEO of Derichebourg SA as well as from all his
operational mandates within the Derichebourg Group, in order to
fully focus on the recovery and development of the Elior Group.
A self-taught executive, he actively participated in the
development of the family waste recovery business founded by his
father. He became in charge of CFER in October 1996, leading the
restructuring and development in France and internationally of the
Compagnie Française des Ferrailles (which later became CFF
Recycling and then Derichebourg SA). He oversaw the acquisition and
restructuring of the Penauille Polyservices Group between 2004 and
2007 in order to transform Derichebourg SA into a global operator
of environmental services for companies and communities. With a
series of acquisitions (Lyrsa, Ecore, etc.), Daniel Derichebourg
built Derichebourg SA into a global operator in waste recycling and
business services, with sales of over 5 billion euros.
Didier Grandpré started his career in 1993 in a
subsidiary of Alcatel as a Sales Engineer, before becoming Head of
Motorway activities for telecom transmission equipment in 1998. He
then joined the Alcatel group in 2001 as Senior Internal Auditor.
In 2004, he joined the information systems department. He was later
responsible for the integration of the main European units into a
common IT financial management tool. In 2007, when Alcatel and
Lucent merged, he was appointed Head of Financial Transformation
for the Europe and South regions. Then, in 2009, he defined and
implemented Alcatel-Lucent's new business model. In 2011, he moved
to the position of Production and Logistics Controller before
moving to supply chain control. In 2014, he was promoted to
Director of Group Financial Planning and Analysis. With the
integration of Alcatel-Lucent into Nokia, he was appointed,
"process owner" for the definition and deployment of processes and
applications for management control, forecasting, reporting and
analysis. He joined Elior Group in August 2018, as Director of
Financial Control, before being appointed Deputy Administrative and
Financial Director on March 01, 2023.
Dominique Pélabon began his career in 1976 with Sodexo
where he served in a number of field positions (area manager,
sales) before becoming Regional Director, General Manager of
Benelux and later General Manager of Sodexo schools and
universities. In 1987, he joined Compagnie Plastic Omnium as
General Manager of the Environment business (Plastic Omnium
Services) and President of Compagnie Signature (specializing in
road signs and safety). During these 15 years, he contributed to
the development of activities in Europe, the U.S., South America
and Asia. Dominique Pélabon was a member of the Management
Committee of Compagnie Plastic Omnium. In 2001, he joined Elior to
take over the General Management of Education and Health
activities. In 2005, he also became Managing Director of the
International Catering business and contributed to the development
and external growth of these activities.
Through the experience he acquired in the industrial world, he
rationalized the production of meals in central kitchens and in the
health sector. Dominique Pélabon was a member of Elior's Executive
Committee until he retired in 2016. Since then, he has been working
as a consultant.
Denis Gasquet is an alumnus of the Ecole Polytechnique, a
graduate of the ENGREF and holds an MBA from the Centre de
Perfectionnement des Affaires. In 1979, he began his career in the
ONF. Ten years later, he joined the Compagnie Générale des Eaux. He
then served in various positions of responsibility within Onyx and
Veolia Environnement. He joined the Onet Group in 2012 and was its
General Manager from August 2013 to September 2018. Since 2019,
Denis Gasquet has worked as an independent consultant.
Sara Biraschi-Rolland graduated in philosophy from the
University of Milan, with a specialization in psychology, and from
the International Institute for Management Development in Lausanne.
She also holds an MBA from INSEAD. She has held several positions
in human resources management over the course of almost twenty
years, mainly within the Danone group. She moved from operational
positions - HR Manager for Italy, HR Director for the Mediterranean
region - to more strategic positions, such as Director of Human
Resources for the Water division. Since 2016, she has been the
Director of Human Resources and a member of the Executive Committee
of Sonepar, the world leader in the distribution of electrical
equipment to professionals.
About Elior Group
Founded in 1991, Elior Group has grown into one of the world's
leading operators in contract catering and support services and has
become a benchmark player in the Business & Industry,
Education, Health & Welfare and Leisure markets. With strong
positions in five countries, the Group generated €4.45 billion in
revenue in fiscal 2022. Our 97,000 employees feed over 3 million
people on a daily basis in 20,500 restaurants on three continents
and offer services on 2,400 sites in France. Innovation and social
responsibility are at the core of our business model. Elior Group
has been a member of the United Nations Global Compact since 2004,
reaching the GC Advanced Level in 2015.
For further information please visit our website at
http://www.eliorgroup.com or follow us on Twitter
(@Elior_Group)
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Press contact Jennyfer Dellupo –
jennyfer.dellupo@eliorgroup.com / + 33 (0)6 79 51 75 65
Investor Relations Philippe Ronceau –
philippe.ronceau@eliorgroup.com / +33 (0)1 71 06 78 40
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