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April 19, 2012

Edenred’s New Executive Committee

Nearly two years after its launch, Edenred, world leader in prepaid corporate services, is restructuring its management team in order to pursue its strategy for strong and sustainable growth.

Since June 2010, Edenred’s 6,000 employees have been mobilized around a three-phase strategy: setting up the conditions to be a standalone company (“Win 2010”), strengthening the Group’s foundations to drive future growth (Conquer 2012) and opening new growth territories (“Invent 2016”). 

The reinforcement of the Group's foundations to support strong and sustainable growth (“Conquer 2012”) will be achieved by: 

pursuing organic issue volume2 growth in the core business, through four drivers:

  • increasing penetration rates (+2% to +5% per year) in existing markets, through the introduction of differentiated solutions backed by a unique quality of service; 
  • creating new solutions, with the launch of 26 new commercial offers between July 2011 and the end of 2012. This accelerated deployment, which demonstrates the Group’s innovation capabilities, should help to contribute to 2 to 4 points of issue volume growth per year from 2013; 
  • expanding geographically, a more gradual strategy for contributing to the Group’s organic growth (+1% to +2% after 2014). The Group intends to move into six to eight new countries in 2016; 
  • increasing face value (+1% to +3%), which benefits from the rise in inflation. 

accelerating the digital transition:

The Group’s objective is to generate 50% of total issue volume through paperless solutions at the end of 2012 (versus 41% at the end of 2011) and to increase this level to more than 70%, starting in 2016. Digital solutions will enable the Group to broaden its offers for clients (companies and local authorities) and provide its affiliates (networks of merchants) and beneficiaries (users of service vouchers) with new value added services. 

The Group has set itself the aim of achieving +6% to +14% issue volume annual growth and over 10% growth in funds from operations per year. 

In the framework of the strategy to “Conquer 2012” and “Invent 2016”, the Group’s Executive Committee, chaired by Jacques Stern, is being reorganized as follows: 

Operational functions: 

  • Jean-Louis Claveau, Chief Operating Officer for Hispanic Latin America and North America 
  • Laurent Delmas, Chief Operating Officer for France 
  • Arnaud Erulin, Chief Operating Officer for Central Europe and Scandinavia 
  • Graziella Gavezotti, Chief Operating Officer for Southern Europe Oswaldo 
  • Melantonio Filho, Chief Operating Officer for Brazil 
  • Laurent Pellet, Chief Operating Officer for Asia-Pacific Bernard 
  • Rongvaux, Chief Operating Officer for Northern Europe, the Middle East and Africa 

Support functions: 

  • Gilles Bonnin, Executive Vice President, Technology and Strategic Information Systems 
  • Gilles Coccoli, Executive Vice President, Strategy and Development
  • Philippe Dufour, Executive Vice President for Alternative Investments 
  • Loïc Jenouvrier, Chief Financial Officer in charge of Legal Affairs 
  • Jeanne Renard, Executive Vice President, Human Resources 
  • Eliane Rouyer-Chevalier, Executive Vice President, Communications and Corporate Social Responsibility 

Edenred now, more than ever before, has the resources and the organization to achieve its ambition: making Edenred the referent for its stakeholders in order to generate strong and sustainable growth. To achieve this ambition, the Group's 6,000 employees are all working every day to deliver differenciated solutions and offer unique service quality.” Jacques Stern, the Group's Chairman and Chief Executive Officer

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