Klépierre Supervisory Board Appoints Stanley Shashoua Chairman, Co-Opts Emmanuel Cronier Following David Simon's Death

Klépierre's Supervisory Board met on April 3, 2026, and unanimously appointed Stanley Shashoua as chairman and co-opted Emmanuel Cronier as a non-independent board member, the company announced. The moves came less than two weeks after the death of Eli Simon, who had served as chairman of Klépierre's Supervisory Board for 14 years before passing away on March 22.

Supervisory Board Met to Address Leadership Transition

The Supervisory Board acted on the recommendations of its Nomination and Compensation Committee, with both appointments taking effect immediately. Shashoua was appointed chairman for the duration of his existing term as a board member. Cronier was co-opted as a non-independent member for a period of one year, through the end of the Ordinary General Meeting called to approve the 2026 financial statements in 2027.

Following the changes, Klépierre's Supervisory Board comprises nine members — six independents and three representatives of Simon Property Group, including the chairman. The board's composition mirrors that of February 17, 2026, the date of its previous meeting, according to the company.

Stanley Shashoua: Profile of the New Chairman

Stanley Shashoua has served as a member of the Klépierre Supervisory Board since April 14, 2015. Since 2025, he has held the title of President – International Real Estate at Simon Property Group. He joined Simon Property Group in 2013 as Head of International Development and later became its Chief Investment Officer before assuming his current role. His background spans finance and real estate.

In a statement, Shashoua said: "I am deeply honored to assume the Chairmanship of Klépierre, succeeding David Simon, an exemplary and visionary leader whose legacy will continue to inspire us all. I am highly committed to pursuing the strategy David so thoughtfully established and to relentlessly driving continued operating excellence across the organization. At the same time, we will remain firmly focused on maintaining Klépierre's industry-leading balance sheet. I have full confidence in the management team to continue delivering sustained growth and create long-term value for our shareholders."

Emmanuel Cronier Joins the Board

Emmanuel Cronier currently serves as Senior Managing Director Europe for Simon Property Group. He joined Simon Property Group in 2008, initially as Vice President of the International Division, and later as Managing Director Europe. Cronier brings more than 30 years of experience in the real estate and industrial sectors. During his career, he has held management positions at Unibail-Rodamco and General Electric, and began his career in 1994 at KPMG in audit and consulting roles.

Context: Governance and Continuity

The appointments reflect a governance structure designed to maintain continuity at Klépierre. Both Shashoua and Cronier are executives at Simon Property Group, and their additions preserve the board's pre-existing balance of independent and affiliated members.

The one-year term for Cronier bridges to the 2027 annual general meeting, providing a defined governance runway while the board stabilizes following Simon's death.