Mr Philippe Charrier, Chairman and CEO of ORPEA, Responds to the Letter From the Investor Initiative for Responsible Care

Rhea-AI Summary

ORPEA, based in France, has acknowledged the concerns raised by the Investor Initiative for Responsible Care in a letter dated June 8, 2022. The company is committed to restoring confidence and addressing criticisms through initiatives like the 'Etats Généraux du Grand Age' days held on May 13 in their facilities. This event aims to foster open dialogue and gather feedback from stakeholders, with plans for a follow-up report and concrete proposals. ORPEA emphasizes the importance of constructive communication with its stakeholders as it navigates the challenges ahead.

Positive

• Launch of 'Etats Généraux du Grand Age' initiative to engage stakeholders.
• Commitment to constructive dialogue and addressing concerns raised by investors.

Negative

• Acknowledgment of significant challenges in restoring stakeholder confidence.
• Previous responses deemed insufficient, indicating potential ongoing trust issues.

PUTEAUX, France--(BUSINESS WIRE)-- Regulatory News:

ORPEA (Paris:ORP):

In my capacity as Chairman and CEO, I would like to thank the Investor Initiative for Responsible Care for its letter dated 8 June 2022.

As I have said, I am fully aware of how far we still have to go to restore confidence in our group, and I regret that the questions raised during the recent interviews mentioned in this letter have given rise to certain answers that were deemed insufficient.

By launching the "Etats Généraux du Grand Age” days in each of our facilities on 13 May, I wanted to invite all our stakeholders to a space for free expression aimed at bringing out criticisms as well as solutions. We thus had the pleasure of welcoming Sycomore Asset Management to one of our sites.

I would like to remind you that we have committed ourselves to ensuring that this major debate is followed by a report, a summary and concrete proposals that will be sent to all the participants as well as to the national representation in France.

With this in mind, we have taken note of questions and propositions outlined by the Investor Initiative for Responsible Care and will ensure a constructive dialogue is established with all our stakeholders.

Yours sincerely,

Philippe CHARRIER
Chairman and CEO

View source version on businesswire.com: https://www.businesswire.com/news/home/20220609006081/en/

ORPEA

Source: ORPEA

FAQ

What is ORPEA's response to the Investor Initiative for Responsible Care?

ORPEA acknowledges the letter from the Investor Initiative for Responsible Care and is committed to restoring stakeholder confidence.

What initiatives has ORPEA launched to engage stakeholders?

ORPEA launched the 'Etats Généraux du Grand Age' days on May 13 to facilitate discussions with stakeholders.

What is the importance of the 'Etats Généraux du Grand Age' initiative for ORPEA?

This initiative is essential for gathering feedback and fostering open dialogue to address criticisms and improve operations.

When did ORPEA hold the 'Etats Généraux du Grand Age' events?

The events were held on May 13 in ORPEA's facilities across France.

What commitments did ORPEA make following the stakeholder engagement?

ORPEA committed to producing a report summarizing feedback and proposals from the stakeholder discussions.