ORPEA: Press Release

Rhea-AI Summary

The Orpea Group's Board of Directors has removed Yves Le Masne from his position as CEO, effective January 30, 2022, after 28 years of service. Philippe Charrier has been appointed as the new Chairman and CEO, taking over from the non-executive chair role. Charrier's primary goal is to ensure best practices within the company and to address ongoing allegations through independent evaluations. Orpea operates 1,156 facilities globally, with 116,514 beds, including 26,359 under construction, across 23 countries, reaffirming its commitment to its employees and residents.

Positive

• Appointment of Philippe Charrier as the new CEO may bring fresh leadership and direction.
• Orpea operates a large network of 1,156 facilities with a significant number of beds under construction, indicating growth potential.

Negative

• The removal of CEO Yves Le Masne may signal instability within the company's leadership.
• Ongoing allegations against the company could pose reputational risks and impact stakeholder confidence.

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

The Orpea Group’s (Paris:ORP) Board of Directors, meeting on January 30, 2022, has decided to terminate Mr. Yves Le Masne’s duties as Chief Executive Officer. The Board expresses its thanks to Mr. Yves Le Masne for his 28 years of service to the Group.

The Board has appointed Mr. Philippe Charrier as the Group’s Chairman and Chief Executive Officer with immediate effect. Non-executive Chairman of the Orpea Group’s Board of Directors since March 2017, Mr. Charrier's mission will be to ensure, under the Board’s control, that the best practices are applied throughout the company and to shed full light on the allegations made, relying in particular on the evaluation assignments entrusted by the Board of Directors to two independent firms currently being appointed.

The Board of Directors joined the new Chairman and CEO in assuring their confidence in and support to the Orpea Group’s 70,000 employees, who carry out a very difficult but essential mission with immense dedication, and in reminding residents and families of the Group's unwavering commitment to their service.

A graduate of the HEC business school and CEO of Laboratoires Mayoly Spindler since 2019, Mr. Philippe Charrier's previous positions include CEO of Oenobiol, CEO of Labco SA, CEO of Ponroy-Havea and CEO of Procter & Gamble France. He is the founding President of Clubhouse France, an association dedicated to the integration of people living with a mental disorder.

About ORPEA (www.orpea-corp.com)

Founded in 1989, ORPEA is one of the major world leaders in comprehensive long-term care, with a network of 1,156 facilities comprising 116,514 beds (26,359 of which are under construction) across 23 countries, which are divided into five geographical regions:

- France Benelux: 586 facilities/49,207 beds (5,672 of which are under construction)
- Central Europe: 268 facilities/28,419 beds (5,828 of which are under construction)
- Eastern Europe: 142 facilities/15,255 beds (4,101 of which are under construction)
- Iberian Peninsula/Latin America: 158 facilities/23,108 beds (10,373 of which are under construction)
- Rest of the world: 2 facilities/525 beds (385 of which are under construction)

ORPEA is listed on Euronext Paris (ISIN code: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220130005041/en/

Investor Relations

ORPEA

Steve Grobet

EVP Communication and Investor Relations

s.grobet@orpea.net

Benoit Lesieur

Investor Relations Director

b.lesieur@orpea.net

Investor Relations

NewCap

Dusan Oresansky

Tel.: +33 (0)1 44 71 94 94

orpea@newcap.eu

Media Relations

Image 7

Laurence Heilbronn

Tel.: +33 (0)6 89 87 61 37

lheibronn@image7.fr

Charlotte Le Barbier

Tel.: +33 (0)6 78 37 27 60

clebarbier@image7.fr

Source: ORPEA

FAQ

Who has been appointed as the new CEO of Orpea?

Philippe Charrier has been appointed as the new CEO of Orpea.

When was Yves Le Masne removed as CEO of Orpea?

Yves Le Masne was removed as CEO on January 30, 2022.

How many facilities does Orpea operate?

Orpea operates 1,156 facilities worldwide.

What are the implications of Philippe Charrier's appointment for Orpea's future?

Philippe Charrier's appointment may lead to improved management practices and address ongoing issues in the company.

What challenges might Orpea face after the CEO transition?

Orpea may face challenges related to management stability and ongoing allegations affecting its reputation.