In brief: ESG-forward Eurazeo changes leadership

Virginie Morgon, an influential voice in European private markets who presided over a number of market leading ESG initiatives, is replaced by a committee that includes a seasoned sustainability professional.

Eurazeo, a listed private markets firm which has been an active proponent of sustainability, has changed its leadership. Virginie Morgon, who has been CEO since 2018 and overseen a near doubling of AUM over that time, is out, replaced by an executive committee.

“The supervisory board and Virginie Morgon jointly decided that her duties as CEO and member of the executive board of Eurazeo should cease,” the firm said in a press release on Monday. Two other executives – general secretary Nicolas Huet and mid-large buyout head Marc Frappier – will also leave the firm.

As CEO of Eurazeo, Morgon established herself as one of the private capital industry’s most influential female voices; she was also an outspoken ESG champion. Under her leadership the firm was quick out of the blocks to set targets in the areas of carbon emissions and gender diversity.

The leadership of the firm will be entrusted to an executive board of four people. Among those on the new board is veteran sustainability professional Sophie Flak, who has been with the firm 10 years and has been leading its sustainability efforts. Flak previously started Accenture France’s sustainability consulting business and was also a member of the executive committee at Accor Hotels, according to Eurazeo’s website.