The supervisory board of the investment company resulting from the Lazard galaxy demanded, then endowed on Sunday, the departure of the chairman of the management board, Virginie Morgon.
by Isabelle Chaperon
This is the characteristic of white knights. In use, they saw broken white, even lead color. In June 2017, feeling threatened by an overly enterprising courtier, Eurazeo, former holding company of the Lazard galaxy, had invited the Decaux family to its capital. Five and a half years later, the kings of the not so urban furniture landed with the president of the board, Virginie Morgon.
Meeting Sunday, February 5, after hours and hours of palaver, the Eurazeo supervisory board has ratified the (forced) resignation from the one that has been running the house since March 2018. It is replaced by a tandem formed by two Members of the Management Board: Christophe Bavaria, Co-founder of the venture capital company Idinvest, bought in 2017, and William Kadouch-Chassaing, former financial director of Société Générale, who had joined the firm in March 2022.
Two other members of the Management Board, who had six people, leave; Another joins him. The new tightened board “aims to accelerate the development of Eurazeo towards management on behalf of third parties, to optimize the strategy of allocation of resources and to continue to improve financial and extra-financial performance”, specifies a statement. As of September 30, 2022, Eurazeo managed for 32.4 billion euros in assets, invested in 530 companies ranging from Manomano to collective cloakroom via Aroma-Zone.
preponderant
This spectacular eviction comes to devote the takeover of the Decaux family within a house placed hitherto under the shadow of the founders of Lazard Bank. It is no coincidence that these settlement of accounts comes seven months after the death, in June 2022, of Michel David-Weill, historic figure of Lazard, who had established a relationship of trust with M me Morgon, former managing partner of the bank. Shortly before the disappearance of the Patriarch of Lazard, Jean-Charles Decaux, one of the three sons of Jean-Claude Decaux, the inventor of the advertising shelter, had succeeded him as president of the supervisory board.
This choice already reflected the preponderant weight taken by the Decaux at the Table of Eurazeo. New arrivals had strengthened in recent years until it became the first shareholders of the investment company, with 17.9 % of the capital on December 31, 2021 (26.1 % of voting rights), thus supplanting the family David-Weill and his allies, whose participation was in the opposite direction over time to descend to 16.2 % (21.1 % of the voting rights). The Decaux have two seats on the supervisory board, against one for a son-in-law of Mr. David-Weill.
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