PRESS RELEASE – CEO succession planning

At the Board of Directors meeting held on 15 June 2020, Mr Alexandre de Palmas, CEO of Carmila, informed its members of his decision to accept the position of Executive Director of Carrefour Spain as of 1 July 2020.

As these new functions therefore appear to be incompatible in the long term with those of being Carmila’s CEO, the Board of Directors has consequently instructed its Compensation and Nomination Committee to make recommendations on the governance of the Company and, taking these recommendations into account, to launch a selection process with a view to the succession of Mr Alexandre de Palmas.

Mr. Alexandre de Palmas will remain Chairman and Chief Executive Officer and Director of Carmila until the completion of this process, and will continue to manage the Company alongside Mr. Géry Robert-Ambroix and Mr. Sébastien Vanhoove, Deputy CEOs.