The conditions of departure of Jean-Michel Aulas from OL
OL Groupe unveiled the departure conditions for the club’s former president and CEO Jean-Michel Aulas…
OL Groupe unveiled the departure conditions for the club’s former president and CEO Jean-Michel Aulas on Thursday. As revealed in our columns on May 9, the former boss of the Lyon club will pocket ten million euros excluding tax, as a breach of contract before its term. Jean-Michel Aulas will also keep benefits in kind: a box at Groupama Stadium, expenses related to his activities within OL Groupe, as well as a company car.
To ensure a smooth transition, Jean-Michel Aulas will continue to cooperate with OL Groupe, of which he will be named honorary president. At the same time, the ex-president will remain a director of OL Groupe, as long as his company Holnest holds voting rights and shares in the Lyon company.
Finally, Eagle, via the company OL Groupe, has undertaken to buy back, within three months, a third of the shares remaining in Holnest, by way of reimburt of its Osranes – its bonds, against a check for 14.479 million euros ( three euros per share). In return, Jean-Michel Aulas has undertaken not to bring any recourse or actions against OL groupe.