PARIS — Paris-based investment firm Eurazeo has named Virginie Morgon as chief executive officer, succeeding Patrick Sayer.
Her nomination will take effect on March 19, when Sayer completes his fourth term as ceo and member of Eurazeo’s executive board. Morgon’s nomination was approved unanimously by a meeting of the Eurazeo supervisory board on Monday.
“This appointment is a part of a smooth transition plan, reflecting the high quality of the company’s governance,” it said.
With a portfolio of roughly seven billion euros in assets under management, of which one billion euros is from third parties, Eurazeo is a shareholder in Desigual, Moncler, Iberchem, Farfetch and Vestiaire Collective, among others.
Morgon has been deputy ceo since 2014 and has sat on the executive board for a decade. She will be responsible for strengthening Eurazeo’s position as a key private equity player and to continue developing its business model based on the complementarity of permanent capital and third-party management.
Sayer said that as a result of its transformation, which included opening offices in the U.S., Brazil and China in the last four years, Eurazeo is now a leading European investment company and number one in France.
“Today, I’m proud to see this transformation continue on a more global scale with Virginie, an exceptional professional who I have known for more than 20 years and with whom I have the great pleasure of working. It will be a ‘seamless’ transition,” he said in a statement.
“I’m proud and delighted to succeed Patrick Sayer,” Morgon said. “He’s one of the most talented and respected individuals in the European private equity sector, with whom I have shared many exciting human and entrepreneurial adventures.
“For me, this decision is a commitment, an obligation and an honor. I will do my utmost to fly Eurazeo’s flag high with conviction, loyalty, commitment, creativity and audacity,” she added.
Morgon will continue to head Eurazeo’s North American division and will split her time between Europe and the U.S., a spokeswoman for Eurazeo said.