Appointment approved by the Supervisory Board
At its meeting on 20 October 2026, the Supervisory Board of PREATONI Group approved the appointment of Patrick Giffaux as Managing Director, alongside his existing position as a member of the Management Board.
The decision, proposed by Oscar Crameri, Chairman of the Management Board, therefore does not represent the recruitment of an external executive.
Patrick Giffaux has served on the Management Board since PREATONI Group was established and will continue to hold his position as Chief Financial Officer.
The stated objective is to establish an operational structure better suited to the geographical distribution of Management Board members, while strengthening oversight of financial and support functions from the group’s headquarters.
Dual responsibilities: General management and finance
In his new role, Patrick Giffaux will represent the company alongside Oscar Crameri and support the next stages of its development.
His responsibilities will include strengthening communication with operational executives, coordinating central functions and maintaining dialogue with stakeholders in Paris.
The financial dimension is central to this governance change.
Patrick Giffaux played an active role in the group’s stock market listing. His new appointment broadens his responsibilities without altering his position as Chief Financial Officer.
“Patrick Giffaux has an in-depth knowledge of PREATONI Group and played an active role in its stock market listing,” said Oscar Crameri, Chairman of the Management Board.
For his part, Patrick Giffaux has emphasised the importance of developing relationships with banks, investors and financial markets to support the group’s ambitions.
A group combining tourist resorts and residential real estate
Founded and developed by Ernesto Preatoni, PREATONI Group operates a business model combining the ownership and operation of tourism assets with residential property development.
Its activities are primarily concentrated in:
- Egypt and Italy, where the group owns and operates tourist resorts.
- The Baltic countries, where it develops residential real estate projects.
PREATONI Group employs more than 1,500 people worldwide.
Its registered office is located in France, and its shares are traded on Euronext Growth under ISIN FR001400WXE7.
This international structure requires coordination between operational activities, central financial functions and capital market stakeholders.
LTH Analysis | Strengthening governance around financing and capital allocation
Patrick Giffaux’s appointment has one particularly notable characteristic: the Chief Financial Officer is also becoming Managing Director while retaining responsibility for the group’s finances.
In a group combining hospitality assets and property development, this concentration of responsibilities could facilitate closer alignment between operational decisions, investment requirements and access to financing.
The announcement explicitly highlights relationships with banks, investors and financial markets. This is therefore less a change in leadership than an extension of responsibilities within an established management team.
The development also deserves consideration from the perspective of listed-company governance. Clear allocation of responsibilities, high-quality financial reporting and coordination between geographical business units are important considerations for investors.
The key issue to monitor will be how this revised distribution of responsibilities translates into project financing and the management of the group’s hospitality assets.
At this stage, PREATONI Group has announced neither a new acquisition nor any quantified financial target in connection with the appointment.
At a Glance
Appointment: Patrick Giffaux, Managing Director of PREATONI Group.
Approval date: 20 October 2026.
Governance: Appointed on the proposal of Management Board Chairman Oscar Crameri.
Existing responsibilities: Remains Group Chief Financial Officer and a member of the Management Board.
Strategic priorities: Central functions, operational coordination, banking relationships and capital markets.
Business activities: Hospitality assets in Egypt and Italy; residential property development in the Baltic countries.
Employees: More than 1,500 worldwide.
Listing: Euronext Growth, ISIN FR001400WXE7.
