Company to take provisional measures to ensure governance (Il Sole 24 Ore Radiocor) - Paris , 30 Apr - French media and retailing conglomerate Lagardere said that Arnaud Lagardere, its chairman and CEO, is resigning from the post following an indictment against him.

Lagardere noted that the indictment "essentially concerns facts relating to personal companies wholly owned by Arnaud Lagardere and not involving any Lagardere group companies." According to the company, "the indictment relates solely to facts dating from 2018 and 2019, qualified as vote buying, abuse of power and dissemination of false or misleading information, which Arnaud Lagardere firmly disputes." While Lagardere intends to appeal, he is still obliged to step down.

"The directors have taken note of this measure and will meet in the near future to take all provisional measures required to ensure the Group's governance pending Arnaud Lagardere being able to resume the management of the Group," Lagardere said.

"The directors wish to reiterate that Arnaud Lagardere is presumed innocent, and that an indictment in no way prejudges the outcome of the proceedings," it added.

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(RADIOCOR) 30-04-24 12:43:00 (0393) 5 NNNN