By François Devedjian, partner and Fabienne Kerebel, counsel
A central component of management packages, the so-called “leavers” mechanisms, organizing the early departure of a manager, participate in the alignment of interests between managers and investors, essential factor for the success of Private Equity transactions.
The apprehension of leavers often tends to favor the technical prism to the detriment of the imperative of balance underlying any exit mechanism, with the corollary of a rarely opportune standardization of tools.
François Devedjian, Fabienne Kerebel and Jean-Jacques Daigre place the mechanisms of leavers in a global perspective, guided by the common entrepreneurial project, justifying the search for the alignment of the interests involved.
They also offer practical recommendations and model clauses suitable for promoting the effectiveness of leavers mechanisms.
Click here to access the folder.
François Devedjian
Partner
A specialist in stock market law and mergers and acquisitions, he is involved, in particular, in public offers and capital market transactions, as well as in mergers and acquisitions, whether or not involving listed companies.
He regularly advises companies whose securities are traded on a regulated market in France, large industrial groups and innovative companies with strong growth, both in their daily life and on specific transactions.
Fabienne Kerebel
Counsel
She has acquired a solid expertise in the law of listed and unlisted companies and its various components, in particular private equity and mergers and acquisitions.
As such, Fabienne advises companies and executives on their external growth operations, changes in their governance or shareholding, the incentive of key managers or the reorganization of corporate structures. She has developed an in-depth practice of financial securities transactions which allows her to support start-ups, SMEs and mid-cap companies in their fundraising as well as investors at all stages of their investment.
Other articles:
Managers, investors: a framework for writing leavers mechanisms
Everything you need to know about access to the shared medical record in 2022
Establishment of two financing for Etam: Brigitte Berdugo advises the group on corporate and tax aspects
PACTE Law - Three practical innovations on preference actions
