Rexel – Agnès Touraine to succeed Ian Meakins as Chair of Rexel’s Board of Directors

July 28, 2023

Having been chosen to chair the Board of Directors of Unilever, Ian Meakins will retire from the Rexel Board with effect on August 31, 2023.

He will be replaced as Chair of Rexel’s Board by Agnès Touraine.

The Rexel Board would like to express its deepest appreciation and gratitude to Ian Meakins for his leadership during the past seven years. During this time, under the initiative of Patrick Berard and then of Guillaume Texier, CEO from September 1, 2021, Rexel’s share price more than doubled, while sales increased by more than 40%, profitability by 75%, total EBITA was multiplied by 2.5 times, and the net debt to EBITDA ratio went from 3 times to 1 time. The Group is now at a historic level of performance, with an ambitious strategy driven by a top-level management team.

In accordance with its succession plan, the Board of Directors of July 27, 2023 unanimously appointed Agnès Touraine as Chairwoman of the Board. Agnès Touraine was up to now Deputy Chairwoman and Senior Independent Director (SID).

Agnès Touraine has extensive governance experience, having chaired the Institut Français des Administrateurs (IFA) and having served on boards in France (SNCF, Tarkett), Belgium (Proximus, GBL) and the UK (Cable & Wireless Plc, Darty Plc), and previously as Chairwoman and CEO of Vivendi Universal Publishing, Havas Interactive and Hachette Livre Grand Public. She has served on the Rexel Board since 2017, chairing the Compensation Committee and the Nomination, Governance and CSR Committee. She had been appointed as Deputy Chairwoman and SID following the last Shareholders’ Meeting on April 20, 2023.

The Board of Directors appointed François Auque as Deputy Chairman of the Board of Directors. The Board deemed it was no longer necessary to appoint a senior independent Director. It also decided to appoint Barbara Dalibard to replace Agnès Touraine as Chair of the Nomination, Governance and CSR Committee and to appoint Brigitte Cantaloube as Chair of the Compensation Committee.

Ian Meakins said: “I am very proud and happy of what Rexel has accomplished over the past seven years. This governance transition comes at an ideal time, when the company is not only posting record results, but also successfully deploying a strategic plan aimed at capitalizing on buoyant electrification trends. I have full confidence in Agnès Touraine and Guillaume Texier to continue to roll out Rexel’s roadmap and further improve its performance.”

Agnès Touraine said: “I am honored to have been appointed as Chair of Rexel. The Company has undergone a deep transformation over the past years, and I will strive to ensure, with the support of the Board of Directors and the leadership of Guillaume Texier, to continue to deliver enhanced profitability, fast growth and value creation for all its stakeholders, while delivering on its ambitious ESG commitments.”

SourceRexel

EMR Analysis

More information on Rexel: See the full profile on EMR Executive Services

More information on Ian Meakins (Chairman of the Board of Directors, Rexel until 31st of August 2023): See the full profile on EMR Executive Services

More information on Agnès Touraine (Independent Member of the Board of Directors, Chairwoman of the Appointments Committee and the Compensation Committee until 31st of August 2023 + Chairman of the Board of Directors, Rexel as from 31st of August 2023): See the full profile on EMR Executive Services

More information on François Auque (Deputy Chairman of the Board of Directors + Director and Chairman of the Audit and Risk Committee, Rexel): See the full profile on EMR Executive Services

More information on Barbara Dalibard (Independent Member of the Board of Directors + Member of the Compensation Committee + Chair of the Nomination, Governance and CSR Committee, Rexel): See the full profile on EMR Executive Services

More information on Brigitte Cantaloube (Director + Member of the Audit and Risk Committee + Member of the Compensation Committee + Chair of the Compensation Committee, Rexel): See the full profile on EMR Executive Services

More information on Guillaume Texier (CEO, Rexel): See the full profile on EMR Executive Services

More information on the Institut Français des Administrateurs (IFA): https://www.ifa-asso.com/ + Created in 2003, the IFA – French Institute of Directors – is an independent association that brings together and represents directors involved in all forms of organizations in the exercise of their responsibilities.

In a role of accompaniment, information, training and as a key player in the principles of good governance, the IFA seeks to promote responsible governance, creating sustainable value by ensuring the common good.

Directors are key actors in governance. They allow the company to reconcile the imperative of performance with the need to make a positive contribution to the world to come.

This is why, in an information and training role, the IFA brings together extremely varied profiles: directors of listed or unlisted companies, family companies, mutual companies, public companies, associations, foundations, etc.

More information on Karine Gognin Sauze (Director General, the Institut Français des Administrateurs (IFA): https://www.ifa-asso.com/rejoindre-lifa/qui-sommes-nous/ + https://www.linkedin.com/in/karine-dognin-sauze-30980820/

More information on SNCF Group: https://www.sncf.com/en + SNCF group offers a full range of mobility solutions across multiple business lines.

Our mission? Make the travel experience simpler. Deliver seamless, sustainable passenger and freight transport. And create the mobility of tomorrow.

To meet these challenges, SNCF group now has a new structure: a single parent company overseeing SNCF Réseau, SNCF Gares & Connexions, Rail Logistics Europe, SNCF Voyageurs, Geodis and Keolis.

SNCF Group is a leader in passenger transport and freight logistics, in France and around the world.

€41.4 bn in revenue in 2022, around 40% from markets outside France
276,000 employees worldwide
15 million passengers carried daily, in France and around the world, all modes combined

More information on Jean-Pierre Farandou (Chairman and CEO, SNCF Group): https://www.sncf.com/en/group/profile-and-key-figures/corporate-governance/management-team/jean-pierre-farandou + https://www.linkedin.com/in/jean-pierre-farandou/?locale=en_US

More information on Tarkett Group: https://www.tarkett-group.com/en/ + Our 34 industrial sites, 12,000 employees and sales 1.3 million square meters of flooring every day in 100+ countries put us in close contact with customers and suppliers everywhere in the world. We combine the strengths of global strategy with the hands-on expertise of local teams to manufacture and design products and services suited to local customer needs and trends. Entrepreneurship is part of Tarkett’s DNA: continuous flooring innovations and acquisitions have marked our 140-year history. Today we continue to foster an entrepreneurial mindset to leadership, empowering our teams and encouraging agility and accountability in decision-making.

€ 3.4bn 2022 Net Sales
12,000 Employees
N1 in Vinyl worldwide

More information on Fabrice Barthélemy (CEO, Tarkett Group): https://www.tarkett-group.com/en/tarkett-group/governance/#management + https://www.linkedin.com/in/fabrice-barth%C3%A9lemy-ceo/

More information on Proximus: https://www.proximus.com/ + Proximus Group (Euronext Brussels: PROX) is a provider of future-proof connectivity and digital services, operating in the Benelux as well as global markets. As a major economic player in Belgium, we make the most of every opportunity to positively impact the world around us. The investments we make in our open fixed and mobile networks are critical for the growth of our economy and the development of new digital ecosystems and innovative solutions.

Thanks to our affiliates BICS and Telesign – international frontrunners in digital identity APIs and communication platforms respectively – we provide reliable and secure communications experiences around the world. On a societal level, we are shaping a fair, trustworthy and inclusive digital world and accelerating the transition to a green society.

More information on Guillaume Boutin (CEO, Proximus): https://www.proximus.com/governance/executive-committee/guillaume-boutin-ceo.html + https://www.linkedin.com/in/guillaume-boutin-90a1aa/

More information on GBL: https://www.gbl.be/en + Groupe Bruxelles Lambert (GBL) is an established investment holding company, with over sixty years old stock exchange listing, a net asset value of € 19 billion and a market capitalization of € 12 billion at the end of March 2023.

GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and supportive family shareholder base.

More information on Ian Gallienne (CEO, GBL): https://www.gbl.be/en/governance/management

More information on Cable & Wireless Plc: The company split in March 2010, with its international division demerging to form Cable & Wireless Communications, acquired by Liberty Global in 2015, and since spun-off in 2018 from Liberty Global to Liberty Latin America, while the remainder of the Cable & Wireless business became Cable & Wireless Worldwide and was acquired by Vodafone in 2012.

More information on Inge Smodts (CEO, Cable & Wireless Plc): https://www.cwc.com/live/past-present/who-we-are.html

More information on Darty Plc (Groupe Fnac Darty, formerly Kesa Electricals plc, Darty plc and Darty Limited): https://www.fnacdarty.com/

Darty group is a leading multi-channel service led electrical retailer operating over 340 stores in three European countries. It generated an annual turnover of nearly €3.5 billion in 2013/14 through operations in Darty in France, Vanden Borre in Belgium and BCC in the Netherlands. Its ordinary shares are listed with the UK Listing Authority and trade on the market for listed securities on the London Stock Exchange under the symbol DRTY.L. It is also listed on the NYSE Euronext Paris.

Fnac Darty is a European leader in the distribution of cultural goods, leisure, technical products, domestic appliances and services.

24 Millions of unique visitors per month on our websites in France
987 Stores throughout the world
25,000 Employees

More information on Enrique Martinez (Chief Executive Officer, FNAC Darty): https://www.fnacdarty.com/en/equipe/enrique-martinez/ + https://www.linkedin.com/in/enrique-martinez-7a593618/

More information on Vivendi: https://www.vivendi.com/en/ + Vivendi is a global leader in culture, entertainment, media and communications.

Promoting creation in all its diversity and revealing talent are at the heart of Vivendi’s strategy. All our businesses contribute to this objective, in particular television & cinema (Canal+ Group), magazines (Prisma Media) and video games (Gameloft). Through Havas, the Group possesses a unique creative expertise to make a meaningful difference to brands, businesses and people. The combination with Lagardère, subject to the fulfilment of the commitments that Vivendi has proposed to the European Commission, will enable the Group to become the world’s third-largest consumer and educational publishing group. The distribution platforms Dailymotion and myCanal ensure a large distribution of content and talent. Through Vivendi Village, Vivendi develops complementary activities in live performance and ticketing.

Vivendi’s different businesses and their employees cohesively work together as an integrated group to generate greater value. Vivendi is committed to the environment and aims to help mitigate climate change by adopting an approach aligned with the 2015 Paris Agreements. In addition, the Group helps building more open, inclusive and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education and to its businesses, and by increasing awareness of 21st century challenges and opportunities.

€ 9.6bn Revenue
38,315 Employees

More information on Arnaud de Puyfontaine (Chairman of the management Board & CEO, Vivendi): https://www.vivendi.com/en/biography/arnaud-de-puyfontaine/ + https://www.linkedin.com/in/arnaud-de-puyfontaine-47083910/

EMR Additional Notes:

ESG (Environmental, Social and Governance):
- Refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. Most socially responsible investors check companies out using ESG criteria to screen investments.
- ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report.
- There is not a standardized approach to the calculation or presentation of different ESG metrics.
  - Environmental: Conservation of the natural world
    - Climate change and carbon emissions
    - Air and water pollution
    - Biodiversity
    - Deforestation
    - Energy efficiency
    - Waste management
    - Water scarcity
    - …
  - Social: Consideration of people & relationships
    - Customer satisfaction
    - Data protection and privacy
    - Gender and diversity
    - Employee engagement
    - Community relations
    - Human rights
    - Labor standards
    - …
  - Governance: Standards for running a company
    - Board composition
    - Audit committee structure
    - Bribery and corruption
    - Executive compensation
    - Lobbying
    - Political contributions
    - Whistleblower schemes
    - …
- Criteria are of increasing interest to companies, their investors and other stakeholders. With growing concern about he ethical status of quoted companies, these standards are the central factors that measure the ethical impact and sustainability of investment in a company.
- Consequently, ESG analysis considers how companies serve society and how this impacts their current and future performance.
CSR (Corporate Social Responsability):
- Framework or business model that helps a company be socially accountable to itself, its stakeholders, and the public.
- The purpose of CSR is to give back to the community, take part in philanthropic causes, and provide positive social value. Businesses are increasingly turning to CSR to make a difference and build a positive brand around their company.
- CSR tends to target opinion formers – politicians, pressure groups, media. Sustainability targets the whole value chain – from suppliers to operations to partners to end-consumers.
CSR vs. ESG:
- CSR is a company’s framework of sustainability plans and responsible cultural influence, whereas ESG is the assessable outcome concerning a company’s overall sustainability performance.
- The major difference between them is that CSR is a business model used by individual companies, but ESG is a criteria that investors use to assess a company and determine if they are worth investing in.