May 22, 2022

Orpea’s new CEO says he was “informed” that the former chief executive had sold shares in the group

The weekly “Le Canard enchaîné” claims that Yves Le Masne sold nearly 5,500 shares of the company last July, three weeks after the management was informed of the forthcoming publication of the book.

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In turmoil since the publication of the book The Gravediggers (ed. Fayard), the Orpea group tried to ignite a first counter-fire by dismissing its managing director, Yves Le Masne, who had been in place for more than ten years. In its edition to be published on Wednesday February 2, The chained Duck now accuses the former leader of having sold 5,456 shares of his company last July, i.e. “just three weeks after Orpea management was informed of the forthcoming publication of the book”. The weekly, which evokes a possible “insider trading”, affirms that the former leader collected more than 588,000 euros in this operation.

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“This is a question that affects Mr. Yves Le Masne, but which does not affect society”, first eluded the new CEO Philippe Charrier, on BFMTV. The latter then confirmed that his predecessor had indeed sold shares: “Of course we have been informed of this since there is a report which is submitted to the AMF [Autorité des marches financiers] for any transaction carried out by managers on the group’s share.” The action, which quoted 107.80 euros at the time, has collapsed since the scandal broke: the title was worth 40.10 euros on Tuesday at the close, after a low of 37.77 euros.

Philippe Charrier added that “The authorities will examine this case with the person concerned. He may have good reasons that I do not know, but I will certainly not judge him for the authorities.”