Elior Group Announces the Separation of the Functions of Chairman of the Board of Directors and Chief Executive Officer and Modifies the Governance Structure of the Group

Regulatory News:

Elior Group (Paris:ELIOR):

At its July 26, 2017 meeting, the Board of Directors voted to modify the Group's one-tier corporate governance structure and adopt a two-tier system, in accordance with governance best practices currently in force.

It had become apparent to the Board that the sizable amount of time the Chairman dedicated to board and committee meetings (due notably to the numerous subjects to be treated as a result of the Group's ambitious development plan) was not compatible with the duties he was also required to exercise as CEO.

This decision will enable these bodies to function more efficiently.

Accordingly, the Board offered Philippe Salle, current Chairman and Chief Executive Officer of the Group, to remain director and CEO. Philippe Salle declared that while he understood the logic and pertinence of this decision, he did not wish to be part of this type of governance structure. As a result, he will step down as Chief Executive Officer, Chairman and member of the Board on November 30, 2017. Until then, he will continue to exercise all of his duties and responsibilities to the fullest.

At its July 26, 2017 meeting, the Board also appointed Sofibim, represented by Gilles Cojan, as Vice-Chairman, a position provided for in the internal rules of the company.

The Board of Directors decided to appoint Gilles Cojan Chairman of the Board, to take up office on the day of Philippe Salle's departure. Gilles Cojan was chosen for his in-depth knowledge of both the industry and the Group, in which he has played a key role notably by ensuring the bulk of its international expansion.

To enhance the corporate governance of the Group, the Board of Directors also decided to confer upon Gilles Auffret the role of senior director to go into effect immediately. Gilles Auffret's mission will be to assist the Chairman of the Board of Directors in organizing the work carried out by the Board, and to ensure the liaison between other independent directors so that he can coordinate the work they carry out and solicit their opinions.

Upon recommendation of Philippe Salle, Pedro Fontana, the current CEO of Areas, Elior Group’s worldwide concession catering business, has been appointed Deputy CEO of Elior Group going into effect as of today. Pedro Fontana will be appointed CEO from the date Philippe Salle leaves the Group until the arrival of the new Director and CEO. The Nominations and Compensation Committee is currently reviewing possible successors and will submit its proposals to the Board of Directors as soon as possible.

The Board thanked Philippe Salle for the considerable contribution he has made in the development of the Group, as well as for launching and implementing the transformation plan, the positive impacts of which should continue to feed through in the years to come.

The financial release regarding the consolidated revenue figures at June 30, 2017 will be brought forward and issued on July 27, 2017 before the start of trading, owing to the review of the Group’s quarterly information performed by the Board of Directors during its July 26, 2017 meeting.

The English-language version of this document is a free translation from the original, which was prepared in French. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions expressed therein, the original language version of the document in French takes precedence over this translation.

About Elior Group

Founded in 1991, Elior Group has grown into one of the world's leading operators in the catering and support services industry, and has become a benchmark player in the business & industry, education, healthcare and travel markets. Now operating in 15 countries, the Group generated €5,896 million in revenue through 23,000 restaurants and points of sale in FY 2015-2016. Our 120,000 employees serve 4.4 million people on a daily basis, taking genuine care of each and every one by providing personalized catering and service solutions to ensure an innovative customer experience.
We place particular importance on corporate social responsibility and have been a member of the United Nations Global Compact since 2004 and we reached the GC Advanced level in 2015. The professional excellence of our teams, as well as their unwavering commitment to quality and innovation and to providing best in-class service is embodied in our corporate motto: "Time savored".

For further information please visit our website http://www.eliorgroup.com or follow us on Twitter @Elior_Group

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