Maisons du Monde

Peter Child and Michel-Alain Proch join Maisons du Monde's Board of Directors

COMMUNIQUÉ DE PRESSE

PETER CHILD AND MICHEL-ALAIN PROCH JOIN MAISONS DU MONDE’S BOARD OF DIRECTORS

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Nantes, March 11, 2020

Maisons du Monde’s Board of Directors announces that Peter Child has been co-opted as independent member and Chairman of the Board, succeeding Sir Ian Cheshire. Michel-Alain Proch also joins the Board as independent director and Vice-Chairman.

The Board of Directors, that met on March 10, 2020, unanimously decided, after a recruitment process initiated in the second half of 2019 and on the recommendation of the Nomination and Compensation Committee, to co-opt Messrs. Peter Child and Michel-Alain Proch to replace Sir Ian Cheshire and Mrs. Marie Schott, who resigned from their positions today.

Peter Child also succeeds Sir Ian Cheshire as a member of the Nomination and Compensation Committee. Michel-Alain Proch will join the Audit Committee.

The Board of Directors welcomes the arrival of Peter Child and Michel-Alain Proch, whose recognized experience and skills are invaluable assets to support Maisons du Monde in its future development. In particular, Peter Child will bring his deep knowledge of the retail sector in France and internationally, and Michel-Alain Proch his financial expertise in listed groups.

These co-optations will be subject to ratification by the Annual General Meeting, along with the renewal of their mandate as members of the Board of Directors.

The Board warmly thanks Sir Ian Cheshire for his commitment and contribution to the development of the company since its IPO and the support he has provided to Maisons du Monde’s management. The Board also thanks Marie Schott for her valuable contribution over the past three years.

Sir Ian Cheshire, Chairman of the Board of Directors, declared: “It has been an honor to chair Maisons du Monde’s Board of Directors since December 2016. Having supported the Group’s development following its IPO, a new chapter in its growth story is set to be written with the implementation of its 2020-2024 strategic plan. I fully support the recommendation to appoint Peter Child as Chairman of the Board, given his solid knowledge of the retail sector and his recognized leadership."

Peter Child declared: "I am delighted to join the Maisons du Monde Board of Directors and assume the role of non-executive Chairman. Maisons du Monde has an exceptional omnichannel model and has solid assets to continue its profitable growth. I am convinced that with Michel-Alain Proch and rest of the Board, we will bring to Maisons du Monde complementary experience and skills in order to support Julie Walbaum and her Executive Committee in the implementation of the Group’s strategy,  for the benefit of all its customers, employees and shareholders."