AXA (EPA:CS) - AXA announces senior leadership changes to implement the new phase of its strategic journey

Transparency directive : regulatory news

25/03/2021 08:48

Press release

Paris, March 25, 2021

AXA announces senior leadership changes to implement the new phase of its
strategic journey

AXA announces today changes in its senior leadership team to implement its new
strategic plan, Driving Progress 2023, presented in December last year.

"A new phase has started for AXA with the launch of its Driving Progress 2023
strategic plan. Our 2020 results have shown AXA's resilience through the
Covid-19 crisis and we are now fully focused on implementing our 2023 plan. In
a context which will remain complex and volatile, we are announcing a renewed
leadership team and a simpler organisation to accelerate the execution of our
strategic priorities and to consolidate AXA's leadership across all our
markets," commented Thomas Buberl, CEO of AXA.

* Simplification of AXA's Corporate Center

AXA's Corporate Center will move to a simpler and more focused organization, in
line with the operating model launched in 2017, and led by two Deputy CEOs:

- Frédéric de Courtois will join AXA, on August 1st, as Deputy CEO, in charge
of Finance and Investments, Risk Management, Strategy, and Ceded Reinsurance.

- George Stansfield, Deputy CEO and Group General Secretary, in charge of
Legal, Human Resources, Audit, Compliance and Public Affairs, will also oversee
Communication, Brand and Sustainability.

The two Deputy CEOs will therefore manage all of the Group's central functions
to ensure consistency and effectiveness in the implementation of the new
strategic plan. In addition:

- Etienne Bouas-Laurent, Group Chief Financial Officer, will become CEO of AXA
Belgium, effective July 1st. He will replace Jef Van In who will take over a
new transversal role to be announced shortly. Etienne Bouas- Laurent will also
oversee activities in Luxembourg.

- Alban de Mailly Nesle, Group Chief Risk and Investment Officer, will become
Group Chief Financial Officer while continuing to lead Group Investments,
effective July 1st.

"I am very happy to welcome Frédéric back to AXA after a very successful five
years at Generali where he held a number of senior management positions,
including General Manager overseeing most central functions and the
implementation of strategy. Prior to joining Generali, Frédéric worked at AXA
for more than 20 years serving in a number of senior positions including CEO of
AXA Italy. Frédéric will bring in-depth knowledge of the industry and
financial markets and play a key role in the execution of our 2023 plan. I look
forward to working closely with Frédéric and George in this new phase of our
journey."

"I would like to warmly thank Etienne for the outstanding job he has done, in
particular helping us navigate through the crisis. I wish him the best in his
future role leading a key market for AXA and pursuing the transformation
successfully led by Jef Van In over the last years, who will take over an
important transversal role for AXA. I look forward to continuing to work with
Alban in his new position as Group CFO. His broad experience in finance, risk
and capital management and his extensive knowledge of the Groupwill bring the
perfect blend of qualities and expertise for his new position," said Thomas
Buberl.

* Changes in key geographies

Important leadership changes will also be implemented in key geographies:

- Jacques de Peretti, Chairman and CEO of AXA France, will take up a new
challenge serving as a Senior Advisor to the Group CEO to help drive key
strategic initiatives across the Group andas a Board member of different AXA
entities. Jacques de Peretti will remain a member of AXA's Management
Committee.

- Patrick Cohen, CEO of AXA Italy, will be appointed CEO of AXA France,
reporting to Thomas Buberl, effective May 3rd.

- Benoît Claveranne, CEO of AXA International & New Markets (INM), has decided
to pursue new opportunities outside of the Group. Going forward, the African
and Asian operations of INM will report to Gordon Watson, CEO of AXA Asia, and
the other INM operations* as well as AXA Partners and AXA Next will report to
Antimo Perretta, CEO of AXA Europe.

"I would like to warmly thank Jacques for his great contribution to the success
of AXA throughout his career, especially as Chairman and CEO of AXA France.
With his very strong and committed team, as well as our agents with whom he has
always worked hand in hand, Jacques has marked the history of AXA France with
major transformations that have strengthened our position as the market leader.
I feel grateful to have had the opportunity to work closely with him and
benefit from his experience over the past years, and I am happy that Jacques
has agreedto stay with us to support me on some important priorities of our
next strategic plan."

"I am very happy to see Patrick take this major role after having made a strong
mark in transforming our business and strengthening AXA's positioning in the
Italian market. His drive for customer-led innovation, tech-led transformation
and leadership will be instrumental in writing, together with the teams,
another successful chapter for AXA in our home market. I wish him and the teams
of AXA France all the best in their mission."

"Benoît has had a magnificent career at AXA where he has proven the strength
of his business vision and courage to transform our activities across mature
and emerging markets. I would like to thank him sincerely for his support in
the simplification of our geographical footprint and the leadership he has
brought to our high growth markets," added Thomas Buberl.

* Renewed Management Committee

The Group's Management Committee will be renewed with the further addition of
Helen Browne, Group General Counsel, and Ulrike Decoene, Group Chief
Communication, Brand and Sustainability Officer.

Led by Thomas Buberl, AXA's Management Committee will be composed of 15 members
going forward:

* George Stansfield, Deputy CEO and Group General Secretary, in charge of
Legal, Human Resources, Audit, Compliance, Public Affairs, Communication, Brand
and Sustainability,

* Frédéric de Courtois, Deputy CEO, in charge of Finance and Investments,
Risk Management, Strategy, and Ceded Reinsurance,

* Helen Browne, Group General Counsel,

* Patrick Cohen, CEO of AXA France,

* Ulrike Decoene, Group Chief Communication, Brand and Sustainability Officer,

* Georges Desvaux, Group Chief Strategy and Business Development Officer,

* Scott Gunter, CEO of AXA XL,

* Alban de Mailly Nesle, Group Chief Financial Officer,

* Marco Morelli, Executive Chairman of AXA Investment Managers,

* Jacques de Peretti, Senior Advisor,

* Antimo Perretta, CEO of AXA Europe,

* Karima Silvent, Group Chief Human Resources Officer,

* Astrid Stange, CEO of AXA Group Operations,

* Gordon Watson, CEO of AXA Asia.

"I am confident that this new leadership team, strengthenedby new talents and
bringing together a great breadth of perspectives and personalities will be
instrumental in helping us successfully navigate the new post-crisis
environment, continue developing a diverse and inclusive culture, and
consolidate AXA's leadership and ambition for the industry," concluded Thomas
Buberl.

The implementation of these changes is subject to consultation with social
partners and regulatory authorities where applicable.

* AXA Bank Belgium, Greece, Gulf, Mexico, Colombia, Brazil, Turkey, Luxembourg,
Russia.

Etienne Bouas-Laurent

Etienne Bouas-Laurent graduated from ESCP Europe business school. He started
his career in 1990 at Guy Barbier & Associés (Arthur Andersen) in Paris,
before joining Franz Haniel & Cie in Duisburg in 1992. From 1997, he has been
occupying various financial and operational functions within AXA, including
Group Corporate Finance Manager (1997-1999), Head of Controlling of AXA France
(2000-2005), Head of Group Investor Relations (2006-2010), Managing Director of
AXA Wealth Management France (2010-2012), Chief Financial Officer of AXA
Germany (2012-2016) and Chief Executive Officer of AXA Hong Kong (2016- 2019).
In 2019, he joinedthe Group Management Committee when he was named Group Chief
Financial Officer.

Helen Browne

Helen Browne is a graduate in law from the University of Kent at Canterbury,
United Kingdom and the Universityof Grenoble, France. She is a solicitor of the
Senior Courts of England and Wales and was admitted to the Paris Bar in 1994.
She joined Linklaters in 1987, working in London, Brussels and Parisand then
joined the legal department of AXA Group in 2001 as Head of Finance before
beingappointed Headof M&A in 2009 and AXA Group Deputy General Counsel in 2014.
Since 2016, she has been AXA Group General Counsel, andin June 2020, was
appointed as employee shareholder representative to the AXA Board of
Directors.

Patrick Cohen

Patrick Cohenholds a Master of Science degree in marketing from ESCP. He
startedhis career in the consumer goodsindustry in 1996 as a Brand Manager for
PepsiCo France and then joined the Henkel France as Marketing Manager in 2001.
He joined McKinsey in 2004 where he served leading Insurance institutions. In
2007, he movedto General Electric where he successively held the positions
Chief Marketing Officer Western Europe and Chief Marketing & Strategy Officer
Global Banking. He joined Zurich Insurance in 2012 where he became Global
Headof Customer, Distribution and Marketing and then Managing Director Personal
Lines in the UK. In 2016 he was appointed CEO of AXA Italia and also became
President of "Angels for Women", the first Business Angels networkin Italy
investing in female-led startups.

Frédéric de Courtois

Frédéric de Courtois graduated from the Ecole Nationale des
Télécommunications Paris, holds a MBA from the Collège des ingénieurs and a
degree from the French Actuarial Institute. He started his career at CGI
Informatique in 1990, before joining the UAP's corporate finance team in 1993.
In 1997, he movedto AXA's Groupcontrolling team. In 2000-2001, he co-managed as
Deputy Head a salaried sales channel andcoordinatedtransversal projects at AXA
Conseil. He was appointed in 2001 Deputy CEO of AXA RE, in charge of finance,
legal and claims. In 2003 he became CFO of AXA Japan, before being appointed
Deputy CEO of AXA Life Japan and CEO of AXA Japan & Asia-Pacific P&C in 2006.
He was appointed in 2007 CEO of AXA MPS, AXA's joint venture with Banca Monte
dei Paschi di Siena, and became CEO of AXA Italy in 2013. He joined Generali in
2016 as CEO International & Global Business Linesand was appointedin 2018
General Manager of the Group. He served from 2019 to 2021 as Vice-President of
Insurance Europe.

Ulrike Decoene

Ulrike Decoene graduated from the Ecole Normale Supérieure and Sorbonne
University Paris IV. She has held teaching positions at the universities of
Yale and Paris-Est Marne-la-Vallée. Ulrike Decoene joined AXA in 2007 as Head
of Media Relations and Internal Communications of AXA Investment Managers,
after working for several offices of the French government between 2003 and
2007. She then joined the Group's Mediterranean, Latin America and Africa
region as Head of Communications, Corporate Responsibility and Public Affairs,
before becoming Director of the AXA Research Fund in 2015. From 2016 to 2019,
she served as Chief of Staff to Thomas Buberl, CEO of AXA. Ulrike Decoene was
appointed Group Head of Communication, Brand and Sustainability in 2019.

Alban de Mailly Nesle

Alban de Mailly Nesle graduated from ESSEC business school. He began his career
at BNP Paribas in 1993. In 2000, he joined AXA where he headed mergers and
acquisitions for Asia and the United States. In 2007, he took over as the head
of Group Corporate Finance and Treasury department, moving on to become Chief
Fin ancial Officer of the Mediterranean and Latin America Regionin 2010. He was
appointed AXA Group's Chief Risk Officer in 2013. In 2017, he took on the new
Group Insurance Office, in addition to his responsibilities and joined the
Group's Management Committee. In 2019, Alban de Mailly Nesle became Chief Risk
and Investment Officer, taking the additionalresponsibility of overseeing the
Group Investment Department, in addition to Group Risk Management and Ceded
Reinsurance.

Jacques de Peretti

Jacques de Peretti is a graduate of Ecole Polytechnique of Paris, Ecole
Nationale Supérieure d'Aéronautique et de l'Espace of Toulouse, and the
Institut d'Etudes Politiques of Toulouse. He holds a Master of Sciences from
Stanford Universityand a post graduate degree in actuarial sciences from the
Institut des Actuaires. Jacques de Peretti joined AXA with the UAP merge in
1996. He managed different AXA France regions, before joining the AXA France
Executive Committee in 2001 and being appointed Chief Executive Officer of AXA
Courtage in 2001, Chief Executive Officer of AXA Entreprises in 2003 and Chief
Executive Officer of AXA Particuliers/Professionnels in 2009. In 2015, he
became Chairman & Chief Executive Officer of AXA Japan and a member of the AXA
Group Executive Committee. Jacques de Peretti was appointed in 2016 Chairman &
Chief Executive Officer of AXA France, and a member of AXA's Management
Committee.

George Stansfield

George Stansfield graduated from Georgetown Law School with his law degree in
1985 and from Trinity College with a degree in History in 1982. He was admitted
to the New York Bar in 1986 and has been licensedas an attorney in New York
since that time. Prior to joining AXA's Group Legal Department in Parisin 1996,
George Stansfield practiced law for 11 years in New York City where he was a
corporate attorney in the Legal Department of AXA Equitable specialized in
merger & acquisition transactions involving financial institutions, securities
law and general corporate matters. He was Head of Group Human Resources from
2010 to 2016 and Group General Counsel from 2004 to 2016. In July 2016, George
Stansfield was named Group General Secretary and a member of the Group's
Management Committee. He was appointed Deputy Chief Executive Officer on
December 1, 2017, in additionto his responsibilities.

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with
153,000 employees serving 105 million clients in 54 countries. In 2020, IFRS
revenues amounted to Euro 96.7 billion and underlying earnings to Euro 4.3
billion. AXA had Euro 1,032 billion in assets under management as of December
31, 2020.

The AXA ordinary share is listed on compartment A of Euronext Paris under the
ticker symbol CS (ISN FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA).
AXA's American Depository Share is also quoted on the OTC QX platform under the
ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow
Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme's Finance Initiative
(UNEP FI) Principles for Sustainable Insurance and a signatory of the UN
Principles for Responsible Investment.

This press release and the regulated information made public by AXA pursuant to
article L. 451- 1-2 of the French Monetary and Financial Code and articles
222-1 et seq. of the Autorité des marchés financiers' General Regulation are
available on the AXA Group website (axa.com).

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com

FOR MORE INFORMATION:
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Corporate Responsibility strategy:
axa.com/en/about-us/strategy-commitments

SRI ratings:
axa.com/en/investor/sri-ratings-ethical-indexes

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AXA (EPA:CS) - AXA announces senior leadership changes to implement the new phase of its strategic journey

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