Under-pressure care home firm Orpea proposes board shake-up

A view reveals the brand of French care houses firm Orpea on the entrance of a retirement dwelling (EHPAD – Housing Institution for Dependant Aged Individuals) in Reze close to Nantes, France, February 2, 2022. REUTERS/Stephane Mahe

PARIS, July 3 (Reuters) – French care dwelling firm Orpea (ORP.PA), beneath strain over its enterprise practices and the way in which it runs its houses, on Sunday introduced proposals to shake up its board of administrators to enhance governance.

Orpea mentioned shareholders at its annual basic assembly could be requested to nominate 5 new administrators for a four-year time period, 4 of whom can be impartial. A type of 4 is Guillaume Pepy, chairman of Initiative France and former chairman and chief govt of the state railway agency SNCF.

Orpea mentioned final month that an audit had discovered proof of economic wrongdoing however didn’t help all of the allegations made towards the corporate. Police additionally searched Orpea’s headquarters final month. Orpea shares are down round 70% up to now in 2022. learn extra

Reporting by Sudip Kar-Gupta; Enhancing by Kevin Liffey

: .