Kering - Changes in the membership of Kering's Board of Directors
*PRESS RELEASE*
March 4, 2022
*CHANGES IN THE **MEMBERSHIP *
*OF **KERING’S **BOARD OF DIRECTORS*
At its meeting on March 4, 2022, Kering’s Board of Directors, in coordination with the Appointments and Governance Committee, approved the following changes in its membership:
· *Resignation** of Sophie L'**Hélias** as Independent **Director*
Due to her recent appointment to chair the Board of Directors of another group, Sophie L'Hélias submitted her resignation from her position as Director to the Chairman of Kering’s Board of Directors. Sophie L'Hélias has been an Independent Director of Kering since April 29, 2016 and was appointed Lead Independent Director on February 11, 2019. She was also a member of the Remuneration Committee, which she chaired from 2016 to 2020, and a member of the Audit, the Appointments and Governance as well as the Sustainability Committees.
· *Non-renewal of the term of office of **Yseulys* *Costes** as Independent Director*
A member of Kering’s Board of Directors since May 19, 2010, Yseulys Costes did not wish to submit her term of office for renewal at the next Annual General Meeting to be held on April 28, 2022, due to the loss of her status as Independent Director. Yseulys Costes is currently Chair of the Remuneration Committee and member of the Audit Committee and the Appointments and Governance Committee.
· *Appointment of **Véronique** Weill**, **Yonca* *Dervisoglu** and Serge Weinberg** as Independent Directors*
The appointment of Véronique Weill, Yonca Dervisoglu and Serge Weinberg will be submitted to the vote of shareholders at the Annual General Meeting to be held on April 28, 2022.
A French national, Véronique Weill is Chairwoman of CNP Assurances’ Board of Directors. She would bring to Kering’s Board of Directors her sound experience in corporate governance.
A Turkish national, Yonca Dervisoglu is Vice President, Marketing at Google for the Europe/Middle East/Africa region. She would bring to Kering’s Board of Directors her expertise in the fields of new technologies, digital and marketing at the international level.
A French national, Serge Weinberg is Chairman of Sanofi’s Board of Directors. He would bring to Kering’s Board of Directors his large experience in management as well as his expertise in finance and corporate governance.
· *Renewal of the term of office of Daniela **Riccardi** as Independent Director*
Daniela Riccardi has been a Director of Kering since May 6, 2014 and a member of the Sustainability Committee. Her term of office expires at the next Annual General Meeting. Daniela Riccardi is Chief Executive Officer of Moleskine since April 2020. She brings to Kering's Board of Directors her strong international experience in business and brand development in the consumer goods and retail sectors.
François-Henri Pinault, Chairman and CEO of Kering, declared:
"On my own behalf and on behalf of the Board of Directors, I sincerely thank Yseulys Costes for her involvement and decisive role in the Board over the past twelve years, in particular as Chair of the Remuneration Committee and member of the Audit and the Appointments and Governance Committees. I would like to congratulate Sophie L'Hélias on her new role and thank her warmly for her contribution to the work of the Board, in particular in her capacity as Lead Independent Director, whose appointment was welcomed by all stakeholders. Finally, I am pleased to submit to the vote of the next General Meeting the appointments of Véronique Weill, Yonca Dervisoglu and Serge Weinberg as well as the renewal of Daniela Riccardi's term of office. Their respective knowledge and skills, as well as their backgrounds, will provide valuable inputs to the Board of Directors' discussions, and I am looking forward to counting on their commitment.”
In the light of these changes, the Board of Directors has entrusted the Appointments and Governance Committee with the tasks of:
· Replacing Sophie L'Hélias in the role of Lead Independent Director, whose duties are provided for and described in the Board of Directors' internal rules.
· Working on reshaping the Committees of the Board of Directors following the Annual General Meeting to be held on April 28, 2022.
Therefore, following the Annual General Meeting of April 28, 2022 and upon approval of the resolutions by the shareholders as well as the assessment of the independence of the new Directors by the Appointments and Governance Committee, Kering’s Board of Directors would be comprised of 14 members and would include:
· 7 Independent Directors (i.e., a rate of 58% excluding Directors representing employees, in accordance with the provisions of the AFEP-MEDEF Code);
· 6 women (i.e., a rate of 50% excluding Directors representing employees, in accordance with the provisions of AFEP-MEDEF code);
· 6 different nationalities (British, Chinese, French, Italian, Ivorian and Turkish).
*About* *Véronique** Weill*
A French national, Véronique Weill had numerous responsibilities in financial services, with a background of more than 20 years in investment banking in the United States, in the UK and France, then 10 years at AXA, as well as in the field of new technologies and digital.
A graduate of the Institute of Political Studies (IEP) in Paris and holder of a literature degree from the Sorbonne University, Véronique Weill began her career at Arthur Andersen Audit in Paris.
From 1985 to 2006, she held various positions of responsibility within JP Morgan in Paris, London and New York, in particular as Head of European, then Global Head of Operations and Technology for asset management and private clients, then Global Head of Operations for Investment Banking and Shared Services.
Back in France in 2006, she joined the AXA Group as Managing Director of AXA Business Services and Director of Operational Excellence; she became a member of the Management Committee in 2010 as Chief Operating Officer, then Group Chief Customer Officer in charge of customers, brand and digital of the AXA Group. She has been President of the Board of subsidiaries in France, Spain and Italy, and she was a member of Scientific Board for AXA Research Fund.
In August 2017, she joined Publicis Groupe as General Manager, in charge of mergers and acquisitions, Operations, IT and real estate, and member of the Group Management Committee.
Since July 2020, she has been Chairman of the Board of Directors of CNP Assurances.
She is also a member of the Board of Directors of Valeo and of the Supervisory Board of Rothschild & Co.
*About* *Yonca* *Dervisoglu*
A Turkish national, Yonca Dervisoglu is Google’s Vice President of Marketing for Europe, Middle East and Africa. She joined Google in 2006 and manages teams across 35 countries, working on all products. She co-founded Google Arts and Culture, and Grow with Google.
Prior to Google, Yonca held senior marketing positions at Unilever and Yahoo!
She currently sits on the Board of AccelerateHer of the Founders Forum. Previously, she served on the Supervisory Board of Heineken, Supervisory Board of Mavi, and Digital Advisory Board of the Natural History Museum in London. She is a fellow of the Marketing Society.
*About **Serge Weinberg*
A French national, Serge Weinberg is Chairman of Sanofi’s Board of Directors since 2010 and Chairman of the investment firm Weinberg Capital Partners since 2015.
Serge Weinberg held different positions as a “sous-préfet” from 1976 to 1981 and became Chief of Staff of the French Budget Minister, Laurent Fabius, in 1981. From 1982 to 1987, he held different management positions at the French Television Channel France 3 and Havas Tourisme Group. He served as CEO of Pallas Finance for three years before joining the Pinault Group in 1990 as President of CFAO. In the Pinault Group, he served as Chairman and CEO of Rexel from 1991 to 1995 and chaired the Management Board of the PPR Group for 10 years. In 2005, he created the investment firm Weinberg Capital Partners. He was appointed Chairman of Sanofi’s Board of Directors in 2010. Serge Weinberg is also a member of the Board of the AFEP and one of the founders of the Institute for Brain and Spinal Cord Disorders (ICM) and Télémaque.
Serge Weinberg holds the rank of Commander in the “Légion d’honneur” (French Legion of Honor).
Serge Weinberg holds a Bachelor’s degree in Law, a Graduate Degree of “Institut d’Études Politiques” in Paris and is a Graduate of ENA (Ecole Nationale d’Administration).
*About** Kering*
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2021, Kering had over 42,000 employees and revenue of €17.6 billion.
*Contacts*
*Press*
Emilie Gargatte +33 (0)1 45 64 61 20 emilie.gargatte@kering.com
Marie de Montreynaud +33 (0)1 45 64 62 53 marie.demontreynaud@kering.com
*Analysts**/**i**nvest**o**rs*
Claire Roblet +33 (0)1 45 64 61 49 claire.roblet@kering.com
Laura Levy +33 (0)1 45 64 60 45 laura.levy@kering.com
Julien Brosillon +33 (0)1 45 64 62 30 julien.brosillon@kering.com
*Attachment*
· Press release - Changes in the membership of the Board of Directors of Kering - 04032022