(Reuters) – Elior fell on the Paris Stock Exchange on Monday after announcing the appointment of Bernard Gault as Chairman and Chief Executive Officer, thus formalizing its reorganization following Derichebourg’s acquisition of a stake in its capital last May.
The collective catering group thus decided to combine the functions of chairman of the board of directors and general manager.
The title Elior erases its initial gains and yields 2.5% at 09:44 GMT, penalized in particular, according to Bernstein analyst Richard Clarke, by the group’s inability to find an external candidate.
“Bernard Gault said in the last results that he did not want to keep the position permanently, but like Sodexo, it was not easy to find external candidates, especially with a large shareholder,” said Richard. Clarke.
In addition, the evocation by the group of a phase of examination of the strategic options, “suggests other departures”, he added.
Bernard Gault, interim CEO since March, will indeed have to ensure the continuity of the group’s margin recovery plan as well as lead a review of strategic options within the board of directors, the company said in a press release.
Derichebourg announced in May that it would increase its stake in the group’s capital, rising to 19.6% of the capital.
(Report Diana Mandiá, edited by Kate Entringer)
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