Michel Landel announces his intention to retire as CEO of Sodexo in January 2018;
Sodexo's Board of Directors appoints Denis Machuel as his successor
Paris, France, May 30, 2017 - On behalf of Sodexo's Board of Directors, Chairwoman Sophie Bellon today announced the appointment of Denis Machuel, currently CEO of Benefits & Rewards Services and Personal & Home Services, and Group Chief Digital Officer, to succeed Michel Landel as CEO and Chairman of the Executive Committee in January 2018. Michel Landel has announced his intention to retire and will step down as of the Annual General Shareholders' Meeting on January 23, 2018. To ensure a smooth transition, Denis Machuel will become Deputy CEO of Sodexo as of September 1, 2017. He will work alongside Michel Landel, who retains full executive responsibility for Sodexo's strategy and management during the period leading up to January 23, 2018. Michel Landel will remain on the Board of Directors for the duration of his term, until January 2020.
| Sophie Bellon said: "During his tenure as CEO, Michel built on our strong foundations and pursued Sodexo's international development, driving the Group's transformation to become the world leader in Quality of Life Services. On behalf of the entire Sodexo community, I would like to sincerely thank Michel for all he has done over the past 12 years. Under his leadership the Group's revenues have grown by more than 70%, our operating profit has more than doubled and net profit more than tripled. At the same time Sodexo has elevated its position as a leader in corporate responsibility; the Group has been the top-rated company in its sector for the past 12 years in the Dow Jones Sustainability Index."|
"The Board of Directors and I are very pleased to appoint Denis Machuel to succeed Michel as CEO. Denis has a deep knowledge of our activities and strong international experience. He has successfully managed a global business to deliver profitable growth. His vision is aligned with Sodexo's long-term strategy and mission to improve Quality of Life, and he embodies the Group's values: Service Spirit, Team Spirit, Spirit of Progress."
Michel Landel said: "Having worked with Denis for the past ten years, both as a member of Sodexo's Executive Committee and in a succession of expanding roles within the business, I am confident he is the right person to take Sodexo forward in the next phase of the company's development and to continue to grow our business. He is a strong leader with proven experience developing a business which is undergoing digitalization and disruption. In addition, he will be able to count on the support of a strong, international leadership team which is united around driving performance and identifying future growth opportunities for the Group."
Denis Machuel said: "I am extremely honored and enthusiastic to be entrusted with this mission. I would like to thank Sophie, Michel and the Board for their confidence in me. Leading Sodexo's 425,000 team members to best serve our clients and consumers around the world is an inspiring challenge."
Founded in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance. Operating in 80 countries, Sodexo serves 75 million consumers each day through its unique combination of On-site Services, Benefits and Rewards Services and Personal and Home Services. Through its more than 100 services, Sodexo provides clients an integrated offering developed over 50 years of experience: from food services, reception, safety, maintenance and cleaning, to facilities and equipment management; from Meal Pass, Gift Pass and Mobility Pass benefits for employees to in-home assistance, child care centers and concierge services. Sodexo's success and performance are founded on its independence, its sustainable business and financial model and its ability to continuously develop and to engage the commitment of its 425,000 employees throughout the world.
Sodexo is a member of the CAC 40 and DJSI Indices.
| Key figures (as of August 31, 2016)|
20.2 billion euro in consolidated revenues
19th largest employer worldwide
75 million consumers served daily
17.3 billion euro in market capitalization (as of April 12, 2017)
| Laura Schalk |
Tel: +33 1 57 75 85 69
Tel: +33 1 57 75 80 21
| Virginia Jeanson|
Tel: +33 1 57 75 80 56