Agnès Touraine to succeed Ian Meakins as Chair of Rexel’s Board of Directors

Agnès Touraine to succeed Ian Meakins as Chair of Rexel’s Board of Directors

Having been chosen to chair the Board of Directors of Unilever, Ian Meakins will retire from the Rexel Board with effect on August 31, 2023. He will be replaced as Chair of Rexel’s Board by Agnès Touraine.

The Rexel Board would like to express its deepest appreciation and gratitude to Ian Meakins for his leadership during the past seven years. During this time, under the initiative of Patrick Berard and then of Guillaume Texier, CEO from September 1, 2021, Rexel's share price more than doubled, while sales increased by more than 40%, profitability by 75%, total EBITA was multiplied by 2.5 times, and the net debt to EBITDA ratio went from 3 times to 1 time. The Group is now at a historic level of performance, with an ambitious strategy driven by a top-level management team.

In accordance with its succession plan, the Board of Directors of July 27, 2023 unanimously appointed Agnès Touraine as Chairwoman of the Board. Agnès Touraine was up to now Deputy Chairwoman and Senior Independent Director (SID).

Agnès Touraine has extensive governance experience, having chaired the Institut Français des Administrateurs (IFA) and having served on boards in France (SNCF, Tarkett), Belgium (Proximus, GBL) and the UK (Cable & Wireless Plc, Darty Plc), and previously as Chairwoman and CEO of Vivendi Universal Publishing, Havas Interactive and Hachette Livre Grand Public. She has served on the Rexel Board since 2017, chairing the Compensation Committee and the Nomination, Governance and CSR Committee. She had been appointed as Deputy Chairwoman and SID following the last Shareholders’ Meeting on April 20, 2023.

The Board of Directors appointed François Auque as Deputy Chairman of the Board of Directors. The Board deemed it was no longer necessary to appoint a senior independent Director. It also decided to appoint Barbara Dalibard to replace Agnès Touraine as Chair of the Nomination, Governance and CSR Committee and to appoint Brigitte Cantaloube as Chair of the Compensation Committee.

Ian Meakins said: "I am very proud and happy of what Rexel has accomplished over the past seven years. This governance transition comes at an ideal time, when the company is not only posting record results, but also successfully deploying a strategic plan aimed at capitalizing on buoyant electrification trends. I have full confidence in Agnès Touraine and Guillaume Texier to continue to roll out Rexel’s roadmap and further improve its performance."

Agnès Touraine said: "I am honored to have been appointed as Chair of Rexel. The Company has undergone a deep transformation over the past years, and I will strive to ensure, with the support of the Board of Directors and the leadership of Guillaume Texier, to continue to deliver enhanced profitability, fast growth and value creation for all its stakeholders, while delivering on its ambitious ESG commitments.”

ABOUT REXEL GROUP

Rexel, worldwide expert in the multichannel professional distribution of products and services for the energy world, addresses three main markets: residential, commercial, and industrial. The Group supports its residential, commercial, and industrial customers by providing a tailored and scalable range of products and services in energy management for construction, renovation, production, and maintenance. Rexel operates through a network of more than 1,900 branches in 21 countries, with more than 26,000 employees. The Group’s sales were €18.7 billion in 2022.

Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is included in the following indices: CAC Next 20, SBF 120, CAC Large 60, CAC 40 ESG, CAC SBT 1.5 NR, CAC AllTrade, CAC AllShares, FTSE EuroMid, and STOXX600. Rexel is also part of the following SRI indices: FTSE4Good, Dow Jones Sustainability Index Europe, Euronext Vigeo Europe 120 and Eurozone 120, STOXX® Global ESG Environmental Leaders, and S&P Global Sustainability Yearbook 2022, in recognition of its performance in terms of Corporate Social Responsibility (CSR).
For more information, visit www.rexel.com/en.

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