Governance Evolution at BIC

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GOVERNANCE EVOLUTION AT BIC

BIC Announces Preparations for CEO Gonzalve Bich
Departure by September 30^th, 2025

Clichy, France – December 11, 2024 – Today, the BIC Board of Directors and Gonzalve Bich have announced that they will begin a transition process intended to close out Gonzalve’s tenure and appoint a new CEO by September 30^th, 2025.

Having acknowledged Gonzalve’s decision, the BIC Board of Directors collectively wishes to thank Gonzalve publicly for his achievements and contributions during his over two decades of service to BIC.

Gonzalve will continue to perform his duties until his departure, ensuring a coordinated and gradual transition so that the Group can maintain momentum, a profitable growth trajectory and its commercial discipline. Accordingly, Gonzalve has agreed to carry on his duties as CEO and Director while a successor is identified, after which he will assist the Group as a Senior Advisor. The BIC Board of Directors has decided to create a succession committee including Gonzalve.

Gonzalve is the third generation of the Bich family to serve as CEO, continuing the company’s 80-year legacy established by the visionary minds of his grandfather, Marcel, and his father, Bruno. The BIC^® brand has earned its place in history as one of the most well-known and highly trusted consumer goods brands in the world, selling 28 million products every day in 160 countries.

During his tenure, Gonzalve transformed the future of BIC through leading-edge brand portfolio management practices, guided by a clear purpose to bring simplicity and joy to everyday life, responsibly and sustainably.

In November 2020, Gonzalve introduced the Horizon Strategic Plan. More than a business strategy, the launch of the Horizon Plan marked the beginning of a modern new era of ambition, innovation, leadership, and professional capabilities at BIC to accelerate global growth and deliver value to all stakeholders. Under his Leadership, Gonzalve has increased the annual innovation rate to 10% of Net Sales, grew the business to over 2 billion euros in revenue, simplified its Global Manufacturing footprint and executed a number of important acquisitions.

Diversification has been at the heart of the Horizon strategy since the beginning. Today’s announcement of BIC’s acquisition of Tangle Teezer solidifies this as a cornerstone of BIC under Gonzalve’s leadership and for the future of BIC.

Gonzalve drove sustainable development to be a strategic and operational imperative at BIC. Launched in 2018, "Writing The Future, Together” became the company’s forward-looking, global program underpinned by five major commitments that include improving the learning conditions of 250 million children globally by 2025 and reducing or eliminating virgin plastics in products and packaging by 2030.

Gonzalve Bich, BIC’s Chief Executive Officer, said:

"It is with heartfelt thanks that I reflect on my journey at BIC, to all of the colleagues with whom I’ve worked with over the decades and their remarkable commitment to the company’s evolution, reputation and of course, to its customers all over the world. I will leave the Group after more than 20 years, including 7 as CEO, with a sense of accomplishment and the confidence that it is better positioned than when I first arrived, and that is ready to take on new challenges.”

Nikos Koumettis, Chair of the Board of Directors, said:

"On behalf of the Board, I would like to express our warmest thanks to Gonzalve for his years of dedication, effort and achievements. Through his initiatives to accelerate innovation, product launches, and the geographic expansion of our business, he has brought value creation and strength to the Group’s foundations. BIC is ready to embark confidently into a new chapter of growth, supported by a strong foundation and talented teams which Gonzalve has helped build.”

Information relating to the financial conditions of the departure of Gonzalve will be made public according to applicable regulations and the recommendations of the AFEP-MEDEF Corporate Governance Code.

In accordance with applicable laws, the terms and conditions of Gonzalve’s departure compensation will be submitted to the relevant earliest shareholders meetings to which the Board of Directors will recommend to vote favorably.

In this regard, the Bich family directors have expressed their sincere thanks for the successful work accomplished by Gonzalve over the years and offer their unreserved and unanimous support for him until the term of his functions within the Group. Consequently, they have confirmed that they will vote in favor of all relevant resolutions at BIC's shareholders’ meetings.

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About BIC

A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC’s commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 14,000 team members worldwide, BIC’s portfolio includes iconic brands and products such as BIC® 4-Color™, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky™, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load™, EZ Reach®, BIC® Flex™, Soleil®  and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, BIC is also recognized for its steadfast commitment to sustainability and education. For more, visit www.corporate.bic.com and to see BIC’s full range of products visit www.bic.com. Follow BIC on LinkedIn, Instagram, YouTube and TikTok.

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