As part of the creation of a major public financial unit announced by the public shareholders of CNP Assurances on 30 August 2018, exchanges and transfers of shares were carried out between the French State, Caisse des Dépôts, La Poste and La Banque Postale today.
Following these transactions, the breakdown of CNP Assurances' capital is as follows:
- La Banque Postale1 : 62,13%
- BPCE2 : 16,11%
- Free float3 : 21,76%
1 Wholly owned by La Poste, which in turn is 66% owned by Caisse des Dépôts, a public financial institution.
2 After exercising the call option held by La Banque Postale, concerning 13,833,334 CNP Assurances shares held by BPCE.
3 Including treasury shares (505,717 shares at 31 December 2019).
A meeting of the Board of Directors of CNP Assurances, chaired by Jean-Paul Faugère, was held today. As a result of this change in capital and given the resignation of the French State and of the six directors representing Caisse des Dépôts, it co-opted six directors proposed by La Banque Postale.
The Board of Directors of CNP Assurances is now constituted as follows:
Nine directors proposed by La Banque Postale:
- Tony Blanco, General Secretary of La Banque Postale*
- Yves Brassart, Deputy Chief Executive Officer and Chief Financial Officer of the La Poste Group*
- Catherine Charrier-Leflaive, Deputy Chief Executive Officer of La Banque Postale responsible for insurance*
- Sonia de Demandolx, Director of Demandolx_Furtado*
- François Géronde, Chief Financial Officer of La Banque Postale*
- Christiane Marcellier, Company Director and Managing Partner of JD4C Conseil
- Perrine Kaltwasser, Risk Director of the La Banque Postale, permanent representative of Sopassure
- Philippe Wahl, Chairman and Chief Executive Officer of La Poste
- Rémy Weber, Chairman of the Board of Directors of La Banque Postale
*Directors co-opted today
Two directors proposed by BPCE
- Jean-Yves Forel, Chief Executive Officer of BPCE's Retail Banking in Europe and the Paris 2024 Olympic Games Project
- Laurent Mignon, Chairman of the Board of Directors of BPCE
Two directors representing employees:
- Philippe Bartoli, head of the “cross-functional division” in CNP Assurances’ internal audit department
- Laurence Guitard, Account Manager in the BPCE business unit of CNP Assurances
Four independent directors:
- Jean-Paul Faugère, Chairman of the Board of Directors of CNP Assurances
- Marcia Campbell, Company Director
- Stéphane Pallez, Chairman and Chief Executive Officer of La Française des Jeux
- Rose-Marie Van Lerberghe, Company Director
On this occasion, the Board of Directors reaffirmed its confidence in the Chief Executive Officer, Antoine Lissowski, in pursuing his mission to serve the interests of all shareholders, partners, customers and employees of CNP Assurances.
Subject to the limitations on powers set by the Board of Directors and to regulatory requirements, the Board gave the Chief Executive Officer full powers to ensure that the individual interests of each of CNP Assurances' partners are protected, notably by preventing conflicts of interest and guaranteeing the confidentiality of commercially sensitive information originating from each of CNP Assurances' partners.