Brief: Solocal Group Says Pierre Danon To Replace Eric Boustouller As CEO

Solocal SE

31/08/2020 07:15

Aug 31 (Reuters) - SOLOCAL GROUP SA  LOCAL.PA :
    * ERIC BOUSTOULLER, CEO OF SOLOCAL, WILL LEAVE THE GROUP ON
4TH
OCTOBER 2020
    * DECISION STEMS FROM THE DISCUSSIONS BETWEEN DEBTHOLDERS
AND
SOLOCAL IN CONTEXT OF FINANCIAL STRUCTURE STRENGTHENING PLAN
APPROVED BY A LARGE MAJORITY OF SHAREHOLDERS AT COMBINED GENERAL
MEETING OF JULY 24 2020 AND FROM CHANGES IN SHAREHOLDING
STRUCTURE
    * PIERRE DANON, CURRENTLY CHAIRMAN OF THE BOARD OF
DIRECTORS, WILL
TAKE OVER THE LEADERSHIP, AS THE GROUP CEO FROM THE 5TH OCTOBER
2020
    * IMPLEMENTATION OF THIS PLAN, WHICH RELIES ON A €347
MILLION
CAPITAL INCREASE SHOULD ENABLE SOLOCAL TO OPEN A NEW CHAPTER
BUILDING ON ITS SOUND FINANCIAL STRUCTURE TO CREATE A MORE
PERFORMING DIGITAL MAJOR PLAYER
    * PIERRE DANON  WILL OVERSEE THE EXECUTION OF THE CAPITAL
INCREASE
WHICH WILL OCCUR IN SEPTEMBER
    * MOREOVER, MR PHILIPPE DE VERDALLE, PARTNER OF WEINBERG
CAPITAL
PARTNERS & CEO OF NOBEL FUNDS, HAS RESIGNED FROM HIS BOARD
MEMBER MANDATE AND ITS POSITION OF PRESIDENT OF THE REMUNERATION
AND APPOINTMENTS COMMITTEE ON 28TH AUGUST 2020

Source text: https://bit.ly/2GcANkO
Further company coverage:  LOCAL.PA 

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