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Lagardère Group: after his indictment, Arnaud Lagardère resigns from his mandate as CEO

Arnaud Lagardère stands aside from his group.

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Lagardère Group: after his indictment, Arnaud Lagardère resigns from his mandate as CEO

Arnaud Lagardère stands aside from his group. Suspected of having drawn on the accounts of his companies to finance his lifestyle and personal expenses for several years, the businessman indicated Tuesday morning, in a press release, "to resign from his executive mandates within the Group » Lagardère.

Indicted on Monday, the CEO is subject to “a provisional measure prohibiting him from managing”. A “measure that he contests and against which he will appeal, but which nevertheless forces him to resign from his executive mandates within the Group, despite the appeal filed,” specifies the text. Taking note of this decision, the directors of Lagardère “would like to point out that Mr. Arnaud Lagardère benefits from the presumption of innocence, an indictment in no way prejudges the outcome of the procedure”.

Chairman and CEO of the firm, Arnaud Lagardère formally contests his indictment on Monday, a measure “against which he will appeal”, specifies the text. This legal decision “essentially concerns facts concerning personal companies belonging entirely to him and not involving any company in the Lagardère group”, underlines the press release. It “only concerns facts dating from 2018 and 2019, qualified as vote buying, abuse of power and dissemination of false or misleading information, facts which he strongly contests”.

More information to come.

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