Our governance

Management

Pursuant to French law governing limited liability companies (Sociétés par Actions Simplifiées) and our articles of association (Statuts), our affairs are managed by our Chairman and Chief Executive Officer (Président), who is assisted by the Managing Director and consults our Strategy Committee (Comité Stratégique) on performance and development matters.

In 2019, in face of the rapid international development of the Group, an Executive Committee was set-up by our Chairman in order to implement and coordinate Loxam’s strategy in the entire Group.

Gérard Déprez  /  Chairman and Chief Executive Officer

Our Chairman and Chief Executive Officer is Mr. Gérard Déprez, who has held this position since 1986. Before joining Loxam, Mr. Déprez was regional director of the building materials manufacturer SOCIMAT from 1983 to 1986 (now part of Saint-Gobain Group), and vice president of finance of Ciments d’Origny Group (part of Holderbank Group, also in the building materials industry now Lafarge Holcim) from 1978 to 1983. Mr. Déprez was also Chairman of the Board of the European Rental Association from 2005 to 2013. He holds a business degree from EM Lyon, as well as a degree in law and is a chartered accountant.

Stéphane Hénon  /  Managing Director

Our Managing Director is Mr. Stéphane Hénon, who has held this position since July 2012. Mr. Hénon joined Loxam in 2000 and previously held the positions of Director for Ile de France (2000-2001) and Chief Operating Officer (2001-2012).
Before joining Loxam, Mr. Hénon was the director of building activities at Dagard, an industrial company from 1996 to 2000, and prior to that, an associate consultant at Axionis, a consulting company from 1995 to 1996. He holds a degree from Ecole Supérieure d’Electricité (SUPELEC).

Strategy Committee

The Strategy Committee is currently composed of 10 members, including the Chairman and the Managing Director. Our articles of association provide that the Strategy Committee may consist of up to 12 members who may or may not be shareholders in Loxam. Members of our Strategy Committee (other than the Chairman) are appointed for a term of three years by the ordinary general meeting of shareholders.

The Strategy Committee meets at least four times a year and is convened by the Chairman or the Managing Director. Its role is to assist and advise the Chairman on questions relating to the development strategy, finance, external growth and CSR policy. It takes notice of the reports of the ad hoc Committees (Audit Committee, Remuneration and Appointment Committee, Ethics Committee) and answers to the Chairman on any question submitted to it by him. Members of the Strategy Committee meet those of the Executive Committee during dedicated seminars.

Hélène Bouchache-Déprez  /  MEMBER OF THE STRATEGY COMMITTEE

Mrs Bouchache-Déprez is an architect HMONP and a partner at Studios Architecture in Paris. Mrs Bouchache-Déprez holds a Masters degree and a professional degree from Ecole Nationale Supérieure d'Architecture Paris, Val de Seine.

Yves Coquinot  /  MEMBER OF THE STRATEGY COMMITTEE

Mr. Coquinot spent 31 years at Loxam and held the position of Managing Director from 1997 to 2012. Mr. Coquinot has a degree in law from the University of Dijon.

Jean-Pierre Créange  /  MEMBER OF THE STRATEGY COMMITTEE

Mr. Créange acts as representative of Sparring Capital to the Board of Loxam. Mr. Créange was a founding Partner and Managing Director of Sparring Capital, a private equity firm he co-founded in 2002. Having started his career in the aeronautic sector and in the banking sector, Mr. Créange held positions with the investment firms Unidev and UI. He holds degrees from Ecole Nationale Supérieure des Télécommunications and Institut d’Administration des Entreprises.

Gilles Gramat  /  MEMBER OF THE STRATEGY COMMITTEE

Mr. Gramat was Partner and Chairman of the Supervisory Board at Sparring Capital, a private equity firm he cofounded in 2002. He began his career as an engineer for Avions Marcel Dassault, before joining Crédit National and later Sofinnova, where he served as Deputy Managing Director. In 1987, he founded Unidev, a listed investment company, which was acquired by UI in 1993. He was Chief Executive Officer of UI from 1993 to 2001 and then its Chairman and CEO from 2001 until April 2003. He was also Director of Investments and International Participations of Credit Agricole SA. Mr. Gramat is a graduate of the Ecole Nationale Supérieure des Télécommunications.

Alice Henault  /  MEMBER OF THE STRATEGY COMMITTEE

Currently managing the Corporate Strategy and Development department, Ms. Henault peviously held the position of Director of Loxam Access. Prior to joining Loxam in 2013, she worked as an analyst with PricewaterhouseCoopers in Paris (2007-2011). She holds an MBA from Harvard Business School, an MPhil in Technology Policy from the University of Cambridge, and a Master of Science from Ecole Nationale Supérieure des Télécommunications.

Jean-Pierre Letartre  /  MEMBER OF THE STRATEGY COMMITTEE

Former Managing Partner of EY in France and CEO Western European Region (France, Netherlands, Belgium, French speaking Africa, Luxembourg and Maghreb). In September 2020 he was elected as President of “Entreprises et Cités” and IRD Group. He is also a Board Member of 3 family owned companies. Mr. Letartre graduated with a DEA in Business Law, is a chartered accountant and a statutory auditor.
Jean-Pierre Letartre is deeply involved in promoting entrepreneurship in France. In July 2013, he was appointed one of the ten “qualified members” of the MEDEF Executive Board (the French employers’ organization).

Olivier de la Morinière  /  MEMBER OF THE STRATEGY COMMITTEE

Mr. de la Morinière is managing financial and real estate investments. He was formerly Chairman and CEO of the truck rental company Fraikin. Previously, he was Chairman and CEO of MC International, a consulting firm. Mr. de la Morinière holds a degree from Ecole Polytechnique de Paris and Ecole Nationale des Ponts et Chaussées.

François Varagne   /  MEMBER OF THE STRATEGY COMMITTEE

Mr. Varagne is CEO of Ecore, the second largest metal recycling group in France since 2017. Between 2012 and 2016, Mr. Varagne was CEO of Gras Savoye, a major insurance broker. Between 2001 and 2011 he was CEO of French LPG distributor Antargaz, and before he was the CEO of the transport group Keolis, and Brink’s France, a division on the Brinks security group. He graduated from HEC and holds a degree in philosophy.

Executive Committee

The Executive Committee is made up of eight members: the Group Chairman, the Managing Director, the Managing Directors of the French operations, the two CEOs of the International division, the Group Chief Financial Officer and the Corporate Strategy and Development Director. Each member is in charge of a cross-Group function: CSR, social affairs, reporting, digital, among others. The Executive Committee meets every two months.

For the biographies of Mr. Déprez and Mr. Hénon, please refer to the Chairman & Chief Executive as well as Managing Director sections.

Olivier Grisez  /  MEMBER OF THE EXECUTIVE COMMITTEE

Managing Director of the Generalist Division France. Mr. Grisez joined Loxam in June 2018. Before joining Loxam, he held leaderships positions in B2B operations at Saint Gobain Group and most recently Ivalis, where he was the CEO. He holds engineering degrees from the Ecole Polytechnique and the Ecole Nationale des Ponts et Chaussées.

Philippe Simonnet  /  MEMBER OF THE EXECUTIVE COMMITTEE

Deputy Managing Director of the Specialist Division France: Mr. Simonnet has held various management positions with Loxam since 1998, first as Area Manager, then as Business Unit Manager (Loxam Access and Laho). He was appointed Chief Operating Officer in 2012. Before joining Loxam, he worked at Serre & Ansot Location, a French equipment rental company, from 1986 until 1998, first as Branch Manager and then as Area Manager for the Paris region. He holds a baccalaureate diploma in science.

Paul Rankin  /  MEMBER OF THE EXECUTIVE COMMITTEE

Mr. Rankin joined the Lavendon Group in 2014 as Managing Director of Rapid Access based in the UAE before moving to the position of Chief Operating Officer for the Powered Access Division in 2020. Prior to joining Lavendon Mr. Rankin spent 10 years in Dubai working for Johnson Controls where he served as Regional Executive Director for the Middle East region. He holds a Bachelor of Engineering (Honours) in Building Services Engineering from Glasgow Caledonian University, as well as a Masters in Business Administration from Strathclyde University.

Alice Henault  /  MEMBER OF THE EXECUTIVE COMMITTEE

Currently managing the Corporate Strategy and Development department, Ms. Henault peviously held the position of Director of Loxam Access. Prior to joining Loxam in 2013, she worked as an analyst with PricewaterhouseCoopers in Paris (2007-2011). She holds an MBA from Harvard Business School, an MPhil in Technology Policy from the University of Cambridge, and a Master of Science from Ecole Nationale Supérieure des Télécommunications.

Erik Bengtsson  /  MEMBER OF THE EXECUTIVE COMMITTEE

Mr. Bengtsson is the CEO of Ramirent Ltd. Previously Mr. Bengtsson held the position of Executive Vice President of Sweden at Ramirent, with responsibility over Group Fleet and Sourcing. Erik Bengtsson has a strong track record in the equipment rental industry, having previously been member of the Ramirent Board of Directors from March 2017 to August 2018, and having held various senior managerial roles in the industry since 2005.

Patrick Bourmaud  /  MEMBER OF THE EXECUTIVE COMMITTEE

Mr. Bourmaud has been Chief Financial Officer since 2008. Mr. Bourmaud has been with Loxam since 2004, first as M&A Director (2004-2005) and then as Regional Director (2005-2007). Before joining Loxam he worked for HSBC in the M&A and equity capital markets departments (1994-2004). He holds a finance degree from Ecole Supérieure de Commerce Paris.


Audit Committee

Our Audit Committee is currently composed of three members of the Strategy Committee, Jean Pierre Créange, Jean-Pierre Letartre and Olivier de la Morinière. Two of them are independent (i.e., not shareholders or representatives of shareholders of Loxam SAS). The role of the Audit Committee is to examine the financial statements of the Group prior to their presentation to the Strategy Committee. The Audit Committee also examines the risks faced by the business and meets with the Group’s statutory auditors at least once per year. The Committee meets at least twice a year, with the Group’s CFO in attendance.

Remuneration & Appointment Committee

The Remuneration and Appointment Committee oversees the remuneration and appointment of the Group’s senior executives. It meets at least once per year and is currently composed of four members: Jean-Pierre Créange, François Varagne, Olivier de la Morinière and Gérard Déprez.

Ethics Committee

The Ethics Committee is made up of an independent member of the Strategy Committee (Olivier De la Morinière) and a Group ethics officer. They meet at least once a year. The ethics officer reports on any whistleblowing alerts received and how each of them was dealt with. The Ethics Committee reports to the Strategy Committee.