Lagardre Travel Retail makes changes to its Executive team

Lagard re Travel Retail makes changes to its Executive team Lagard re Travel Retail today announces several changes within its global Executive Committee organization.

Ambroise Fondeur, Chief Business Officer, is leaving the Group, effective immediately. After 26 years at Lagard re Travel Retail in roles in both the US and in Europe, Ambroise will pursue new professional challenges.

Commenting on his departure, Ambroise said: These years at Lagard re Travel Retail have been fantastic years, full of personal development and achievements. I am proud of having contributed to what the group has become. Over the past 20 years I have seen travel retail transformed itself into one of the most attractive channels in retail, built on relationships and based on unique shopping experiences. Despite the short-term challenges it faces, I am convinced that the travel retail industry will bounce back quickly and strongly.

Following Ambroise's leaving, Lagard re Travel Retail is announcing the following evolutions:

Lucio Rossetto, currently CEO, Lagard re Travel Retail Italy, is appointed Chief Business Officer, Lagard re Travel Retail, effective immediately. In this role, Lucio will oversee the Group's three business lines (Duty Free & Fashion, Travel Essentials, Foodservice). Based in Paris, he will be a member of the Executive Committee and report to Dag Rasmussen, Chairman & CEO.

Emmanuel de Place, currently Regional COO - Asia Pacific, will take the responsibility of Chief Transformation Officer, reporting to Jean-Baptiste Morin, Chief Talent & Organization Officer. In his mission within the Executive Committee, Emmanuel will lead the LEaP Forward transformation program, aimed at improving the group's performance and resilience as the industry faces its most difficult crisis due to the Covid-19 pandemic. He will relocate to the Paris office.

These evolutions will trigger the following changes:

Alberto Niero is appointed as CEO, Lagard re Travel Retail Italy. A company veteran, Alberto is currently Vice President Sales, Marketing and Development in Italy.

Ann Pang, currently CFO in Singapore, is taking the position of CEO of Lagard re Travel Retail Singapore and Malaysia.

Within the Group's Executive Committee, S verine Lanthier, Chief Development and Strategy Officer will take responsibility for Asia as Chief Operating Officer for the region (Greater China, Japan, Singapore andMalaysia) in addition to her other responsibilities, and Luc Mansion will take responsibility for the Pacific region in addition to his role as Chief Financial Officer.

Commenting on this announcement, Dag Rasmussen, Chairman & CEO, Lagard re Travel Retail, said: Ambroise has brought a lot in many ways to our Group over the past years and I would like to thank him for his tremendous contribution. We'll miss his vision and his knowledge of the industry.

Lucio will be a great addition to the Group's executive team. Since joining the organization in Italy in 2015, Lucio has demonstrated superior strategic and operational strengths that will be extremely valuable for the Group in these difficult times.

Emmanuel has a long-standing career in Lagard re Travel Retail. His understanding of our business and is in-depth knowledge of the Group will be key to our future successes and ability to live through and rebound from the current crisis. I'm fully confident that under his leadership the Group will be successful in the ambitious business transformation we've initiated.

Both Alberto and Ann have deep understanding of their respective organizations and markets and proven track records.

These changes will make us stronger to live through the crisis and prepare us for the future. They have been made possible thanks to the wealth of talents we have in our organization. I am sure they will deliver great results in the future. Please join me in wishing them every success in their new roles.

Contact:

Auriane Potel, Group Communications Director - au.potel@lagardere-tr.com - +33 6 30 30 94 51

ABOUT LAGARD RE TRAVEL RETAIL

One of the two divisions of the Lagard re group, Lagard re Travel Retail is a global leader in the travel retail industry. Operating 4,800 stores across Travel Essentials, Duty Free & Fashion and Foodservice in airports, railway stations and other concessions in 39 countries and territories, Lagard re Travel Retail generated 5.5 bn in sales in 2019 (managed 100%).

Lagard re Travel Retail has a unique holistic approach aimed at exceeding travelers expectations throughout their journey, and optimizing landlords assets and partners brands.

www.lagardere-tr.com @LagardereTR

Lagard re Travel Retail

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