Two representatives of the recycling group, which now holds more than 20% of the capital, are joining Elior’s board of directors.
Elior’s founder, Robert Zolade, hands over to Derichebourg | Photo credits: Elior
A page turns for the collective catering group. Robert Zolade, co-founder of Elior, hands over to the Derichebourg group and leaves the board of directors where he represented his company Sofibim. Aged 81, Robert Zolade chaired or co-chaired the group from 1991 to 2014. Since then, he was its honorary president. Sophie Javary, director on behalf of Servinvest, another entity controlled by Robert Zolade, also gives up her place on the board. Both are replaced by two directors representing Derichebourg SA (Daniel Derichebourg) and Derichebourg Environnement (Françoise Mahiou).
Bernard Gault appointed CEO to study “strategic options”
A logical development in view of recent capital movements. In May, Derichebourg became Elior’s largest shareholder by buying 14.7% of the shares from Robert Zolade and Gilles Cojan, chairman of the group’s board of directors. The recycling specialist already held 4.9% of Elior. It has further strengthened since then and now owns 20.6%. ” We have the option of increasing our stake to 30%, with no intention of taking control of Elior. We support the board but will ask for two seats on it “, had indicated at the end of May the financial director Pierre Candelier, during a conference to present the half-yearly accounts.
In addition, Bernard Gault, 63, has been appointed Chairman and Chief Executive Officer. Director of Elior since March 2018, he was appointed interim CEO on March 1, after the unexpected departure of Philippe Guillemot. Bernard Gaul” will thus ensure the continuity and success of the margin recovery plan that he has initiated since his appointment (…) He will also steer the review phase of strategic options within the Board of Directors. Gilles Cojan remains a director but Célia Cornu, member of Sofibim’s strategic committee, resigns from her position as censor.
News that is not enough, for the moment, to revive the Elior title, down 3% at noon. The action has lost two-thirds of its value since the start of the year.
MB