New Chief Executive Officer and Composition of the Board of Directors

The company under the registered name “Folli Follie Commercial Manufacturing and Technical Société Anonyme” and the distinctive title “FF GROUP” (hereinafter, the “Company”) hereby announces the election of Mr. Anastasios Frangou as its Chief Executive Officer (CEO), effective immediately.

More specifically, pursuant to the relevant provisions of Market Abuse Regulation (MAR) (EU) 596/2014, article 2 para. 2 (e) of the HCMC decision no. 3/347/12.7.2005, the ATHEX Rulebook and L. 3016/2002 on Corporate Governance, announces Mr. Frangou’s election as a new member of the Company’s Board of Directors, replacing the resigned member Mr. Narkissos Georgiadis, who submitted his resignation from the position of the Deputy Executive Officer of the Company.

In view of the above, the new composition of the Board of Directors of the Company is as follows:

1. AVRAAM C. GOUNARIS - Chairman, non-executive member 

2. ANASTASIOS FRANGOU - Chief Executive Officer, executive member

3. KONSTANTINOS AGGELOPOULOS - independent non-executive member 

4. PANAYOTIS ALEXAKIS – independent non-executive member

5. PERICLES DONTAS - independent non-executive member 

6. ΖHANG HAOLEI - non-executive member 

7. KONSTANTINOS KEFALOGIANNIS - independent non-executive member 

8. ANDREAS KOUTOUPIS - non-executive member 

9. GEORGE KOUTSOLIOUTSOS – non-executive member 

10. GEORGE KYRIAKOS - independent non-executive member 

11. ILIAS PENTAZOS – independent non-executive member

Mr. Avraam C. Gounaris, Chairman of FF GROUP noted: “Mr. Anastasios Frangou is an important addition to the Company’s management team. His long experience, as well as his expertise in managing corporate restructuring and transformation projects will contribute significantly to the recovery process underway and will lay the foundation for our company’s future.”

Mr. Anastasios Frangou stated: “Over my long-term career abroad, I have realized that the Greek companies that manage to have a global footprint are few. Folli Follie is one that succeeded. A successful Greek brand that is present in commercial capitals all around the world. This is why I immediately responded positively to the invitation to undertake the role of FF Group’ s Chief Executive Officer and to contribute to the significant effort being made to overcome the challenges faced by the company and take it back to a path of recovery. Along with the company's management team, we will work with dedication, respect and responsibility towards the employees, partners, customers and shareholders to ensure the company’s sustainability and long-term growth.”

Mr. Frangou is a seasoned executive with over 25 years of international experience in America, Europe, Asia and Africa and an equally successful career in multinational companies. He specializes in restructurings, turnarounds, and business expansion.    At the same time, he has in-depth knowledge and experience in important sectors such as: FMCG's, Construction, Energy, Real Estate, among others. He has served as CEO and member of the Janus Continental Group's board of directors, and as Group COO and CFO of Super-Max. He holds a Master of Business Administration (MBA) with a specialization in Marketing (honors) from California State University.

This announcement is released by Folli Follie Commercial Manufacturing and Technical Société Anonyme in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Rule Book of the Athens Exchange. It contains information that qualifies as inside information for the purposes of Article 7 of MAR. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, the person responsible for arranging the release of this announcement on behalf of the Company is Mantalena Kasidiaropoulou, Head of Investor Relations.

Agios Stefanos, January 25th, 2019