PRESS RELEASE
APPOINTMENT OF THIERRY FALQUE-PIERROTIN AND LAURE HAUSEUX
AS MAISONS DU MONDE’S BOARD MEMBERS
TO BE SUBMITTED TO 2020 AGM
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Nantes, April 30, 2020
Maisons du Monde’s Board of Directors announces today that it will recommend to the 2020 Annual General Meeting of Shareholders the appointment of Thierry Falque-Pierrotin and Laure Hauseux as Independent Directors.
After constructive consultation with major shareholders, including Teleios Capital Partners, and upon recommendation of the Nomination and Compensation Committee, the Board of Directors is pleased to announce that it will recommend to Maisons du Monde’s Annual General Meeting on June 12, 2020 the appointment of Thierry Falque-Pierrotin and Laure Hauseux as independent Board members. Thierry and Laure bring strong retail sector and functional expertise, and their strategic guidance will be of benefit to the future growth of Maisons du Monde.
Such appointments will be recommended as Gilles Petit decided that he will not stand for re-election at the next General Meeting and Nicolas Woussen expressed his intention to step down for personal reasons. The Board of Directors warmly thanks Gilles Petit for his contribution to the development of Maisons du Monde, serving as CEO between 2015 and 2018, leading the company to its IPO in 2016 and serving as a Board member since July 2018. The Board also thanks Nicolas Woussen for his valuable contribution to the Maisons du Monde Board of Directors since April 2016, particularly as President of the Audit Committee.
The Board of Directors also intends to create a Strategic Committee which, upon recommendation of the Nomination and Compensation Committee, would be chaired by Thierry Falque-Pierrotin and composed of Peter Child and Julie Walbaum. Laure Hauseux would join the Audit Committee, together with Marie-Christine Levet and which will be chaired by Michel-Alain Proch. Michel-Alain Proch will also succeed Gilles Petit as a member of the Nomination and Compensation Committee together with Peter Child and chaired by Sophie Guieysse.
Peter Child has agreed to continue to serve as Chairman for an initial term of one year, and Michel-Alain Proch will continue as Vice-Chairman.
Peter Child, Chairman of the Board of Directors, commented: “I am delighted to welcome Thierry and Laure to Maisons du Monde. Their combined experience will bring a lot to the company and its shareholders, and I look forward to working closely with them both as part of this new and exciting Board. I am also delighted that our Board of Directors in its new composition is now gender balanced with parity between women and men, as indeed is the Executive Committee of Maisons du Monde.
I would also like to extend my thanks to Gilles and Nicolas whose contributions since the initial listing of Maisons du Monde have helped guide the impressive growth of the business.”
Thierry Falque-Pierrotin declared: “I am delighted to be joining Maisons du Monde’s Board of Directors. Along with its Chairman and fellow Board members, I will bring my many years’ experience of retail to the company in order to continue its international and omnichannel development.”
Laure Hauseux also declared: “It is a great honour to join Maisons du Monde’s Board of Directors.
I look forward to working with its members, especially within the Audit Committee, to help take the company forward, particularly during this unprecedented time.”
Adam Epstein, Co-Founder of Teleios Capital Partners, commented: “We thank Peter and Michel-Alain for their engagement with us; these appointments have Teleios’ full support at the upcoming General Meeting. We are confident that this renewed Board, strengthened by the experience of Thierry and Laure, has the expertise to guide Maisons du Monde through this challenging time and into the future. We also commend the decisive action taken by Julie and her management team to position the company on a solid footing. We look forward to further collaborating with the team to develop and drive forward Maisons du Monde’s longer-term initiatives as trading conditions start to normalise.”
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Biography of Thierry Falque-Pierrotin
Thierry Falque-Pierrotin has more than 20 years’ experience in retail, having acted as CEO and Chairman at a range of leading retail consumer companies. Prior to his current role as Partner and CEO of Vulcain, an independent pan-European M&A, restructuring and strategic advisory firm, Thierry has held several senior roles at Pinault-Printemps-Redoute (now Kering) between 1990 and 2008. He began his career with the group as Head of Strategy and Development where he helped execute the merger between Pinault, Printemps and La Redoute, and amongst other acted as Chairman and CEO of Redcats Group (formerly La Redoute Group), a multi-brand international online fashion and home furnishing leader. Thierry led its move to an omni-channel player and further developped its international reach. Prior to his current role at Vulcain, Thierry was CEO of Kesa Electricals (now Darty), one of Europe’s largest distributors of household appliances.
Thierry Falque-Pierrotin holds degrees from ESSEC Business School and the Institut d’Etudes Politiques de Paris.
Biography of Laure Hauseux
Laure Hauseux has significant financial and strategic expertise having worked at a range of companies across the retail, IT and industrial sectors, largely in France but also internationally. Laure has served as a Non Executive Director of numerous companies over the course of her career, including Zodiac Aerospace, and currently sits on the boards of OGF, Groupe Casino and European Camping Group. Laure was CEO of GAC Group, an international consulting group, between 2014 and 2017, where she oversaw the restructuring of its international branches, and increased brand awareness, customer loyalty, and digital communication. Prior to this, she was Deputy CEO of Virgin in France between 2010 and 2012. Laure also served as CFO at Groupe Printemps, the French department store chain.
Laure Hauseux holds an ESCP Europe MBA, with finance specialization, a French-German Chamber of Commerce diploma, a Paris IX Dauphine postgraduate academic degree in financial controlling (with honors), and an INSEAD executive Kering MBA.
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About Maisons du Monde
Maisons du Monde is a creator of inspirational lifestyle universes in the homeware industry, offering distinctive and affordable decoration and furniture collections that showcase multiple styles. The Group develops its business through an integrated and complementary omnichannel approach, leveraging its international network of stores, its websites and its catalogues. The Group was founded in France in 1996 and has expanded profitably across Europe since 2003, reporting sales of €1,225 million and EBITDA of €153 million in 2019. At 31 December 2019, the Group operated 376 stores in 9 countries including France, Belgium, Germany, Italy, Luxembourg, Portugal, Spain, Switzerland and the United States, and derived 45% of its sales outside France. The Group has also built a successful complementary and comprehensive ecommerce platform, whose sales grew by over 30% per year on average between 2010 and 2019. This platform, which accounted for 25% of the Group's sales in 2019, is available in the countries where it operates stores plus Austria, the Netherlands and the UK. In 2018, the Group acquired a majority stake in Modani, a furniture chain present in the United States through its stores and ecommerce business. Modani, founded in 2007, is an aspirational lifestyle brand, offering high-quality proprietary modern, contemporary and mid-century furniture at affordable price points, with a nationwide presence through a network of 18 showrooms.
www.corporate.maisonsdumonde.com
About Teleios Capital Partners
Teleios Capital Partners invests in mid-cap companies across all sectors in Europe, with the objective of creating long-term value for all shareholders. Founded in 2013, Teleios manages assets on behalf of an institutional investor base of endowments, foundations and pension plans.
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Contacts
| Investor Relations | Media Relations | |||
| Christopher Welton – +33 7 85 70 71 41 | Clémentine Prat – +33 6 08 61 81 12 | |||
| cwelton@maisonsdumonde.com | cprat@maisonsdumonde.com | |||
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