FRANCE. Lagardère SCA has created a new management board of its current executive committee. Lagardère Travel Retail CEO Dag Rasmussen has taken a place on the new entity, as it focuses on implementing a new “strategic roadmap”.
The board, which includes Lagardère Publishing CEO Arnaud Nourry, will also be responsible for the strategic management of the group. This will help Lagardère Travel Retail emerge stronger from the COVID-19 crisis, and regain its status as the growth engine of the group, the company said.
This will be achieved through the implementation of an operational performance plan and the progressive adaptation of its concession model towards more agility and flexibility in its relationship with commercial partners.
Since the beginning of the year, Lagardère’s managing partners, in coordination with the management of its two divisions, have assessed the long-term impact of the COVID-19 crisis on the underlying markets.
Lagardère said that its strength lies in diversification and the complementarity of its two divisions, which together make it better positioned to resist major downturns.
However, it also sees the unprecedented depth of the current crisis as highlighting the need to accelerate the development of both Lagardère Travel Retail and Lagardère Publishing.
Lagardère also announced that the supervisory board has approved the renewal of Arnaud Lagardère’s mandate as Managing Partner of the Group for four years, effective from 17 August.
In addition, it has reiterated its attachment to the Lagardère Group as an integrated entity, and stated “its acute focus on any attempts to destabilise the group’s governance or intentions to dismantle it’’.
