Financial Arrangements for Departure Announced
On October 16, 2025, the Board of Directors of Mercialys held a meeting where they established the financial terms related to the upcoming departure of Elizabeth Blaise, the Deputy Chief Executive Officer. Her resignation will take effect on December 31, 2025. This decision followed recommendations from the Appointments, Compensation, and Governance Committee and aligned with the company’s approved compensation policy for the fiscal year 2025, which received a 90.79% endorsement during the General Meeting on April 29, 2025.
Fixed and Variable Compensation Details
Ms. Blaise’s annual fixed compensation for the year 2025 is set at €318,000 gross, which will be paid until her departure date. Additionally, her target annual variable compensation is pegged at 65% of her fixed salary, with a potential maximum of 130%. The Board will evaluate the performance objectives for 2025 once the financial statements are finalized, determining the exact amount of her variable compensation based on this assessment. Furthermore, the payment of her variable compensation will require shareholder approval at the upcoming Annual General Meeting, which will also review the financial statements for the year ending December 31, 2025.
Long-Term Incentives and Non-Compete Benefits
Under the existing compensation policy, Ms. Blaise is also eligible for several long-term incentives, including bonus share plans that correspond to her tenure as a corporate officer. These plans include potential awards from previous years, with shares allocated on a prorata basis contingent upon her performance achievements. The specifics of share awards will be confirmed post-approval of the financial statements for 2025, with a review of performance criteria tied to each plan.
In addition, the Board has opted to enforce a non-compete clause effective for 12 months following Ms. Blaise’s departure. In exchange, she will receive a monthly compensation equivalent to 50% of her total annual compensation, calculated from the average of her earnings over the past two years.
Settlement Indemnity and Company Overview
As part of a settlement agreement, Mercialys will also provide Ms. Blaise with a net settlement indemnity of €50,000, contingent upon approval during the General Meeting convened to discuss the financial statements for the year ending December 31, 2025.
Founded in France, Mercialys specializes in the management and transformation of retail spaces, boasting a real estate portfolio valued at €2.9 billion as of June 30, 2025. The company has been publicly traded since October 12, 2005, and holds a significant presence in the real estate investment trust sector, listed under the stock ticker MERY. With 1,985 leases contributing to an annual rental income of €180.4 million, Mercialys remains one of the leading entities in the French real estate market, continuously adapting to consumer trends and market demands.
For further details, stakeholders can access the official press release on Mercialys’ website.
Related
