ARGAN Taps Laurence Batlle for Board in Strategic Governance Overhaul

NEUILLY-SUR-SEINE, FR – January 19, 2026 – ARGAN, the leading French real estate company specializing in premium warehouse development, today announced a significant strategic shift in its corporate governance with the appointment of veteran executive Ms. Laurence Batlle to its Supervisory Board as an independent member, effective January 1, 2026.

The move is part of a deliberate reshuffle designed to maintain strict compliance with corporate governance standards while simultaneously enhancing the board's strategic expertise. The change was precipitated by a modification in the status of Mr. Eric Donnet, a current board member whose new employment contract with the company, effective January 2, 2026, meant he no longer qualified as independent under the Middlenext corporate governance code. This prompted the resignation of Mr. Jean-Claude LE LAN Junior, creating the vacancy for a new independent director.

Ms. Batlle’s appointment, which is provisional pending ratification at the company’s General Meeting in March, not only realigns ARGAN’s board with governance best practices but also brings a powerhouse executive with deep real estate and operational experience into its highest echelon of oversight.

A Proactive Stance on Corporate Governance

ARGAN’s board reconfiguration demonstrates a commitment to governance that goes beyond mere compliance. The catalyst for the change, Mr. Donnet's loss of independent status, triggered a swift and transparent response. To ensure the board maintained its required quota of independent members, Mr. Jean-Claude LE LAN Junior stepped down, allowing the company to seamlessly transition to a new structure.

With Ms. Batlle’s appointment, the Supervisory Board now consists of six members, two of whom are independent. This brings the ratio of independent directors to one-third, precisely meeting the key recommendation of the Middlenext code, the governance benchmark for French mid-cap listed companies. This code emphasizes the importance of having a “sizable proportion” of independent directors to ensure robust oversight and challenge, particularly in controlled companies.

Furthermore, the appointment marks a milestone for the company in gender diversity. The press release noted that Ms. Batlle’s inclusion brings the Supervisory Board to full gender parity, with three men and three women. This move places ARGAN ahead of the curve, not only adhering to the spirit of the Middlenext code's recommendations on gender balance but also exceeding the legal requirements of France's landmark Copé-Zimmermann law, which mandates a 40% minimum representation for the under-represented gender on corporate boards.

This proactive approach to board composition sends a strong signal to investors and the market that ARGAN prioritizes structural integrity and modern governance principles as foundational pillars of its corporate strategy.

A Strategic Appointment for a New Era

The selection of Laurence Batlle is far from a simple box-ticking exercise. She brings over 30 years of professional experience, including a formidable track record as CEO of major corporations. Her background suggests a strategic alignment with ARGAN’s core business and future ambitions.

Ms. Batlle previously served as Executive Chair of Foncia, one of France’s most prominent real estate services firms specializing in property management and transactions. This role provides her with direct, high-level expertise in managing large and complex real estate portfolios, a skill set that is immediately relevant to ARGAN’s €4.1 billion portfolio of over 100 premium warehouses.

In addition to her real estate acumen, Ms. Batlle was Chair of the Management Board of RATP Dev, the international subsidiary of the Paris public transport operator. Her leadership there involved managing vast, complex infrastructure and logistics operations on a global scale. This experience in large-scale operational management offers a valuable perspective for a company like ARGAN, whose success hinges on the efficiency and performance of its logistics-focused properties. Holding a diploma as a certified public accountant (Diplôme d’Expertise Comptable) further cements her qualifications, providing a strong foundation in financial oversight.

Sharpening the Focus on Sustainability and Risk

Perhaps the most telling aspect of this appointment is Ms. Batlle's expected future role. Subject to ratification, she is slated to become the Chair of the Audit, Risk, and Sustainability Committee. This position is increasingly critical as environmental, social, and governance (ESG) factors become central to corporate valuation and long-term viability.

Her appointment to lead this committee aligns perfectly with recent recommendations from Middlenext, which have stressed the importance of having independent directors with strong CSR and financial skills leading such oversight bodies. It signals ARGAN's intent to deepen the integration of sustainability into its core financial and risk management frameworks.

The real estate sector is under intense pressure to decarbonize, and logistics properties are at the heart of this challenge. ARGAN has already established its green credentials with its unique Au0nom® warehouse concept, which features properties that produce their own renewable energy for self-consumption. Placing a high-profile executive like Ms. Batlle in charge of sustainability oversight indicates a plan to accelerate and institutionalize these efforts, ensuring they are not just a product feature but a central tenet of corporate strategy.

This focus is crucial for maintaining the confidence of investors and the company’s “Investment Grade” BBB- rating from Standard & Poor’s, as rating agencies and institutional funds place ever-greater weight on robust ESG performance and governance.

An Evolving Board for a Market Leader

The governance reshuffle also clarifies the future role of Mr. Eric Donnet. While no longer independent, he is expected to be appointed Vice-Chair of the Supervisory Board. This ensures his institutional knowledge is retained in a senior leadership capacity, providing continuity alongside the new strategic input from Ms. Batlle. This carefully orchestrated transition underscores a thoughtful approach to board succession and evolution.

As the leading French player in its market, ARGAN's moves are closely watched. By reinforcing its board with an executive of Ms. Batlle’s caliber and proactively aligning its governance with the highest standards of independence and diversity, the company is fortifying its leadership position. These changes are designed to ensure that its governance structure is as premium and future-proof as the warehouses it develops.

The final composition of the board and Ms. Batlle’s official assumption of her committee chairmanship will be subject to shareholder approval at the upcoming General Meeting scheduled for March 26, 2026, an event that will formally usher in this new chapter for the company.