New Governance of SoLocal Group

BOULOGNE-BILLANCOURT, France--()--Regulatory News:

SoLocal Group (Paris:LOCAL):

At the Combined General Assembly of 13 June 2017, four additional Directors have been elected : Delphine Grison, Sophie Sursock, David Amar and Philippe de Verdalle. Since October 2016, eight new members have joined the Board of Directors, which now has 14 members (excluding the Director representing the employees).

At the Combined General Assembly, a point was made concerning the replacement of the Chief Executive Officer, following the decision announced on 31 May 2017 of Jean-Pierre Remy to leave office. The criteria and selection process for the future CEO were decided by the Board of Directors. On the recommendation of the Remuneration and Appointment Committee, the Board of Directors, in its new composition, will select the future CEO in the coming weeks, with the objective that the person concerned may take up his new duties as soon as possible and at the latest, during the last quarter of 2017.

Deputy CEO Christophe Pingard and the members of the Executive Committee are fully committed to ensuring the continuity of the Company's operations and the implementation of the strategic plan "Conquer 2020".

At the Combined General Assembly, Robert de Metz indicated that he would terminate his duties as Chairman of the Board of Directors no later than 5 September 2017 and would remain at the disposal of the Board of Directors as a censor until 31 December 2017, in such a way that it can be present during the transitional period and therefore facilitate its progress. The new Board of Directors, which met at the end of the Combined General Assembly, took note of this decision and asked the Remuneration and Appointment Committee to initiate a reflexion on the choice of Robert de Metz's successor.

To take into account the arrival of additional members, the Board of Directors has set up the composition of the various committees. The Remuneration and Appointment Committee will now be chaired by Philippe de Verdalle and the newly created Strategic Committee will be chaired by David Amar. The new composition of the committees will be as follow :

 
AUDIT COMMITTEE
Sandrine Dufour (President)     Annual General Assembly of 2018     Independent
Nathalie Balla     Annual General Assembly of 2018     Independent
Jacques-Henri David     Annual General Assembly of 2020     Independent
Arnaud Marion     Annual General Assembly of 2020     Independent
Sophie Sursock     Annual General Assembly of 2021     Independent
 
REMUNERATION AND APPOINTMENT COMMITTEE
Philippe de Verdalle (President)     Annual General Assembly of 2021     Independent
David Amar     Annual General Assembly of 2021     Independent
Alexandre Loussert     Annual General Assembly of 2020     Independent
Robert de Metz     Anticipated by 5 September 2017     Independent
Cécile Moulard     Annual General Assembly of 2019     Independent
Joëlle Obadia     7 April 2020     Representing employees
Jean-Marc Tassetto     Annual General Assembly of 2019     Independent
 
STRATEGIC COMMITTEE
David Amar (President)     Annual General Assembly of 2021     Independent
Delphine Grison     Annual General Assembly of 2021     Independent
Monica Menghini     Annual General Assembly of 2020     Independent
Cécile Moulard     Annual General Assembly of 2019     Independent
Jean-Marc Tassetto     Annual General Assembly of 2019     Independent

The Board of Directors took note of the rejection of the sixteenth resolution at the General Assembly of 13 June 2017 concerning the authorization granted to the Board of Directors to allocate free shares of the Company. The Board of Directors has asked the Remuneration and Appointment Committee to make new proposals for long-term incentives as soon as possible.

About SoLocal Group

SoLocal Group, European leader in local online communication, reveals local know-how, and boosts local revenues of businesses. The Internet activities of the Group are structured around two business lines: Local Search and Digital Marketing. With Local Search, the Group offers digital services and solutions to clients which enable them to enhance their visibility and develop their local contacts. Thanks to its expertise, SoLocal Group earned the trust of some 490,000 clients of those services and over 2.4 billions of visits via its 4 flagship brands (PagesJaunes, Mappy, Ooreka and A Vendre A Louer) but also through its partnerships. With Digital Marketing, SoLocal Group creates and provides the best local and customised content about professionals. With over 4,400 employees, including a new orders force of 1,900 local communication advisors specialised in five verticals (Home, Services, Retail, Health & Public, BtoB) and Internationally (France, Spain, Austria, United Kingdom), the Group generated in 2016 revenues of 812 millions euros, of which 80% on Internet and ranks amongst the first European players in terms of Internet advertising revenues. SoLocal Group is listed on Euronext Paris (LOCAL). More information may be obtained at www.solocalgroup.com.

Contacts

SoLocal Group
Press
Delphine Penalva, +33 (0)1 46 23 35 31
dpenalva@solocal.com
or
Edwige Druon, +33 (0)1 46 23 37 56
edruon@solocal.com
or
Alexandra Kunysz, +33 (0)1 46 23 47 45
akunysz@solocal.com
or
Investors
Emmanuelle Vinel, +33 (0)1 46 99 41 80
evinel@solocal.com
or
Sébastien Nony, +33 (0) 1 46 23 49 03
snony@solocal.com

Contacts

SoLocal Group
Press
Delphine Penalva, +33 (0)1 46 23 35 31
dpenalva@solocal.com
or
Edwige Druon, +33 (0)1 46 23 37 56
edruon@solocal.com
or
Alexandra Kunysz, +33 (0)1 46 23 47 45
akunysz@solocal.com
or
Investors
Emmanuelle Vinel, +33 (0)1 46 99 41 80
evinel@solocal.com
or
Sébastien Nony, +33 (0) 1 46 23 49 03
snony@solocal.com