Crédit Agricole S.A. Board Appoints Olivier Gavalda as Chief Executive from May 2025 AGM

The Board of Directors of Crédit Agricole S.A. resolved on 17 December 2024 to appoint Olivier Gavalda as the group's Chief Executive Officer, with his mandate to take effect from the Annual General Meeting scheduled for 14 May 2025. Gavalda will succeed Philippe Brassac, the current CEO of Crédit Agricole S.A.

Crédit Agricole S.A. is the listed holding entity of the Crédit Agricole Group, which operates in French retail banking through its network of regional mutual banks, known as the Caisses Régionales. The group also operates businesses in insurance through Predica and CA Assurances, asset management through Amundi and corporate and investment banking through Crédit Agricole CIB.

GOVERNANCE STRUCTURE

Olivier Gavalda is a senior figure within the Crédit Agricole network. Under the Crédit Agricole model, the regional mutual banks hold the majority of the listed entity's capital through a holding structure.

Philippe Brassac, the outgoing CEO, will remain in post and continue to discharge his responsibilities until the Annual General Meeting in May 2025.