Cnova EGM & governance changes

CNOVA N.V.
Changes to the Board of Directors and
Convocation of Extraordinary Shareholders Meeting

AMSTERDAM – January 12, 2023, 18:15 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova” or the “Company”) today announces changes to its Board of Directors and the convocation of an Extraordinary Shareholders Meeting.

Cnova announces the following changes to the composition of its Board of Directors:

• Mr. Emmanuel Grenier, 51 years old, in his capacity as member of the COMEX of Casino Group, has been appointed Executive Director of Casino Group e-commerce. As a result, he will no longer serve as Cnova CEO and Executive Director as of January 16, 2023. Subject to approval of our shareholders meeting, he will, on the other hand, remain on the Board as a Non-Executive Director and chair the Cnova strategic committee.

Mr. Thomas Metivier, 35 years old, Engineer of France’s Corps des Mines, is appointed to replace Mr. Grenier as Cnova Executive Director and CEO, effective January 16, 2023. He has also been appointed CEO of Cdiscount.

Emmanuel Grenier will accompany the new management until February 20, 2023, before taking on his new functions.

Mr. Metivier has been actively involved in the development and implementation of strategic projects at Cnova. He has most recently served as CEO of Octopia, Cdiscount’s B2B subsidiary dedicated to the marketing of marketplace solutions that he successfully launched two years ago.

After a first experience at the Aquitaine DIRECCTE, Mr. Métivier joined Cdiscount in 2016, at the Department of Strategy. In 2018, he was appointed Head of Marketplace and Strategy and joined Cdiscount’s Executive committee.  Mr. Métivier is a graduate of the Ecole Polytechnique and is an engineer of France’s Corps des Mines.

Emmanuel Grenier managed Cnova and Cdiscount for 15 years, during which the GMV was multiplied by more than 4.

For the past 2 years, several major projects have been at the heart of the Company’s strategic development: marketplace, retail media, B2B, and strengthening of the business model. The change announced today marks a new stage in the Company’s development, made possible by the acceleration of actions taken on these strategic priorities.

• Mr. Guillaume Michaloux has been appointed as Non-Executive Director on the date hereof. He will be taking the place of Mr. Ronaldo Iabrudi dos Santos Pereira who resigned on January 12, 2023.

Guillaume Michaloux has been Director of Strategy and M&A LatAm at Casino Group since 2019. He is based in São Paolo. He is also Member of the Board of Directors of Group Éxito (Colombia). Previously, he was in charge, from 2016 to 2019, of Casino Group’s strategic planning process. Prior to joining Casino, he worked for 6 years for the French Finance Ministry, where he held various positions in the Budget Department. Mr. Michaloux holds a master’s degree in Public Affairs from Sciences Po Paris and a master’s degree in Management from ESCP Europe Business School (Paris).

• Mr. Eleazar de Carvalho Filho has been appointed as the Board’s Vice-Chairman. He will also succeed Mr. Iabrudi on the Company’s Nomination and Remuneration Committee.

The Board is delighted that Mr. Grenier has agreed to stay on as a Non-Executive Board member, subject to appointment by the Company’s next shareholders’ meeting, ensuring that the Group will continue to benefit from the numerous contributions made by Mr. Grenier during his tenure as CEO.

The Board also wishes to thank Mr. Iabrudi for his services to the Board, as Non-Executive Director and Vice-Chairman, since the creation of Cnova NV in 2014.

Cnova also today published the notice for an Extraordinary General Meeting of Shareholders (the “EGM”) on its website at www.cnova.com. The EGM is to be held on Wednesday March 1, 2023, at 14:00 CET, at Hilton Amsterdam Airport Schiphol Hotel located at Schiphol Boulevard 701, 1118BN, in Schiphol, the Netherlands. As explained in the notice and the explanatory notes relating to the EGM, the agenda for the EGM, as proposed by the Company’s Board of Directors (the “Board”), is as follows:

1. Opening of the EGM
2. Appointment of Mr. Thomas Metivier as Executive Director (voting item)
3. Appointment of Mr. Emmanuel Olivier Grenier as Non-Executive Director (voting item)
4. Appointment of Mr. Guillaume Michaloux as Non-Executive Director (voting item)
5. Questions
6. Closing of the EGM

The EGM notice and agenda, the explanatory notes thereto as well as the proxy card forms are available at Cnova’s website at www.cnova.com.

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About Cnova N.V.

Cnova N.V., the French ecommerce leader, serves 8.8 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.’s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release.

This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.

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• 2023 01 12_PR Cnova EGM & governance changes