Séché Environnement

Change in Corporate Governance

Regulatory News:

Driven by positive trends on its markets and its leading strategic positions around the world, Séché Environnement (Paris:SCHP) can now reaffirm its ambition of delivering sustainable and value-creating growth, backed by the long-term commitment of its majority shareholder, Séché Group SAS, which recently increased its capital holding¹.

To this end, and with the constant aim of ensuring the Group meets the highest standards, Joël Séché presented the Board of Directors with a plan to adjust its governance structure by separating the roles of Chairman and Chief Executive Officer and reorganizing the Board of Directors with a smaller team, fully respecting the principles of ensuring Board members have complementary skills, independence and gender equality.

On November 12, 2019, the Board of Directors unanimously approved this proposal which meets the AFEP-MEDEF code and will lead to the following changes from December 10, 2019:

1. Separation of the roles of Chairman and Chief Executive Officer

• Joël Séché, founder of Séché Environnement, remains Chairman of Séché Environnement ;
• Maxime Séché has appointed Chief Executive Officer of Séché Environnement.

2. A smaller Board of Directors meeting the best governance practices by offering complementary skills, independence and gender equality

The Board of Directors will now have 8 members with complementary expertise, plus one non-voting Director:

• Joël Séché, age 64, Chairman of Séché Environnement
• Maxime Séché, age 35, Chief Executive Officer of Séché Environnement
• Guillaume Cadiou, age 42, Chairman of the Management Board of Kepler Cheuvreux
• Philippe Guérin, age 48, Director representing employees
• Anne-Sophie Le Lay, age 48, Corporate Secretary of Air France - KLM group
• Marina Niforos, age 50, Chairman of Logos Global Advisors
• Pascaline Peugeot de Dreuzy, age 61, Chairman of P2D TEchnology
• Philippe Valletoux, age 76, Vice Chairman of the Dexia Crédit Local Executive Committee until 2009
• Guillaume Séché, age 37, serves as non-voting Director.

The Board of Directors extends its profound gratitude to Jean-Pierre Vallée, Carine Salvy and Christophe Gégout who submitted their resignations today. Their contributions have been invaluable in establishing the Group’s strategy, including the need to review the Group’s internal organization. Their work and the expertise they brought the Board and its specialized committees (Audit Committee, Compensation and Appointments Committee, Strategic Committee) complemented rightly that of the other Board members and enabled Séché Environnement to embark upon its recent change of scale, which involved reinforcing its management teams and expanding the Group, in particular via acquisitions abroad.