Nexity

Changes in Nexity's governance

CHANGES IN NEXITY’S GOVERNANCE

Paris, 31 March 2021

Nexity’s Board of Directors, at its meeting yesterday chaired by Alain Dinin, adopted the draft resolutions to be submitted for approval at its Shareholders’ Meeting on 19 May, as well as a number of decisions related to its governance.

Subject to approval of these resolutions, a new executive management structure will take effect at the close of the Shareholders’ Meeting, with the following features:

• Separation of the roles of Chairman of the Board of Directors and Chief Executive Officer, and appointment of Véronique Bédague as Chief Executive Officer at the close of the Shareholders’ Meeting of 19 May 2021. Nexity thereby aims to reinstate the governance system implemented in 2019 with the appointment of Jean-Philippe Ruggieri as Chief Executive Officer, which was interrupted following his death in April 2020. Alain Dinin, as Chairman of the Board of Directors and the Strategy and Investment Committee, will continue to assist the executive management team in high-level decision-making regarding strategy and the allocation of financial and human resources. Ms. Bédague, who currently leads all of Nexity’s development businesses, will be appointed for a four-year term.
   
• The announced departure of Julien Carmona, who has expressed his wish to pursue a new career direction, and did not request to have his appointment as a company officer and the Group’s Deputy Chief Executive Officer renewed. This term of office will end at the Shareholders’ Meeting in May 2021. The Board expresses its deepest gratitude to Julien Carmona, who has shared his talent and dedication with the Nexity Group since January 2014.
   
• To ensure continuity in delegations of authority, Jean-Claude Bassien, already Deputy CEO in charge of Services, will be, alongside Véronique Bédague, the Group’s second company officer for a four-year term starting at the close of the Shareholders’ Meeting.

Alain Dinin commented: “The new governance structure to be put in place as of the Shareholders’ Meeting of 19 May will ensure continuity and help accelerate the Group’s services platform strategy. In my capacity as Chairman of the Board and representative of a group of shareholders holding around 20% of the share capital, I will accompany Véronique Bédague and her team in developing our business models and pursuing a new growth cycle driven by low-carbon solutions, services and innovation to adapt to emerging trends in how people live and work. I would also like to extend my deep thanks to Julien Carmona for his major contribution to Nexity’s development over the past several years.”