Korian: Adapting the Corporate Governance to the Change in the Company's Shareholding Structure and Proposal of the Appointment of a New Independent Director

PARIS--()--Regulatory News:

The Board of directors of Korian (Paris:KORI), European leader in Ageing Well, meeting today, announces:

  • the decision of Jacques Ambonville, director, member of the Investment committee and Chairman of the Ethics and quality committee, not to seek the renewal of his office;
  • the decision of Batipart Invest, represented by Charles Ruggieri, director, member of the Appointments and compensation committee and of the Investment committee, not to seek the renewal of his office.

The terms of office of Anne Lalou, director, Chairwoman of the Appointments and compensation committee, and of Guy de Panafieu, Director, Chairman of the Audit committee, member of the Appointments and compensation committee, are expiring and their renewal will be proposed at the next Annual General Meeting.

"All of the members of the Board of directors join me in sincerely thanking Jacques Ambonville and Charles Ruggieri who have been part of Korian's history and growth. Jacques Ambonville has been a very committed director for almost 10 years. He has brought to Korian his very strong knowledge of the sector and his industry experience in the world of healthcare. Charles Ruggieri was a founder of Korian and brought an entrepreneurial dimension which played a large part in making Korian the European leader of the elderly care sector," commented Christian Chautard, Chairman of the Board of Directors of Korian.

Taking these decisions into account, the Board of directors will propose to the Annual General Meeting on 23 June 2016:

  • not to replace the position of director left vacant by Batipart Invest;
  • the appointment of Jean-Pierre Duprieu, as an independent director of the Company. Jean-Pierre Duprieu has agreed that his appointment be proposed at the Annual General Meeting. Biography in appendix.

If these proposals were adopted by the Annual General Meeting of 23 June 2016, the Board of directors would be composed of 10 members, including 5 independent directors and 4 directors representing the Group's reference shareholders in addition to the Chairman of the Board of directors. The Board also includes a director representing the employees and an observer.

The strengthened share of independent directors highlights the willingness by the directors to create a corporate governance reflecting recent changes in the Group's shareholding structure and the significant expansion of its shareholder base. The proposal to welcome Jean-Pierre Duprieu, with his resolutely international background, also marks an additional step in the expansion of the international vision intended by the Board of directors.

APPENDIX

Jean-Pierre Duprieu (64 years old) is Deputy CEO of the Air Liquide Group, which he joined in 1976. Within this group, he supervises the European industrial businesses and the global businesses in the healthcare field. He also supervises, within the General Management of the Air Liquide Group, the information systems and purchasing functions. He spent five years as director of the Asia-Pacific Region, based in Tokyo, as part of the Group's Executive Committee. Jean-Pierre Duprieu is also a member of the Supervisory Board of Michelin and a member of its Audit Committee. Bilingual in German, Jean-Pierre Duprieu sits on the Supervisory Board of the Franco-German Chamber of Commerce.

ABOUT KORIAN

Korian, Europe’s leading Ageing Well specialist, founded in 2003, has the capacity to accommodate some 70,000 residents and patients in Europe (France, Germany, Italy and Belgium) and employs around 45,000 people. The Group manages over 700 facilities in four business lines: long-term care nursing homes, post-acute and rehabilitation care clinics, assisted living facilities, hospital care and home-care services.

For more information, please visit the website: www.korian.com

Korian is listed on Euronext Paris Compartment A and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap

Euronext ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP

Contacts

INVESTORS:
Korian
Didier LAURENS, +33 (0)1 55 37 53 55
Investor Relations Director
didier.laurens@korian.com
or
PRESS:
DGM Conseil
Sophie BODIN / Tarick DALI, +33 (0)1 40 70 95 93
s.bodin@dgm-conseil.fr / t.dali@dgm-conseil.fr

Release Summary

Adapting the corporate governance and proposal of the appointment of a new independent director

Contacts

INVESTORS:
Korian
Didier LAURENS, +33 (0)1 55 37 53 55
Investor Relations Director
didier.laurens@korian.com
or
PRESS:
DGM Conseil
Sophie BODIN / Tarick DALI, +33 (0)1 40 70 95 93
s.bodin@dgm-conseil.fr / t.dali@dgm-conseil.fr