By
Bloomberg
Published
July 22, 2026
The chief financial officer of Chanel is set to join the board of home improvement group Adeo, owned by one of France’s wealthiest families, according to people with knowledge of the matter.
Philippe Blondiaux, who’s retiring as the luxury group’s CFO at the end of the year, is set to join Adeo’s board along with Lorraine Frega, a member of the executive committee of tire maker Michelin SCA, the people familiar with the nominations said, asking not to be identified. Blondiaux, Frega and representatives for Adeo didn’t immediately reply when asked to comment.
Adeo is owned by the Mulliez clan, one of France’s wealthiest families, whose holdings also include the Decathlon sporting goods and Auchan supermarket chains. The family, with roots in Northern France, had an estimated net worth of about $33 billion as of December 2024, according to the Bloomberg Billionaires Index.
Adeo owns Leroy Merlin, as well as the Weldom, Kbane, Saint Maclou, and Bricocenter chains, which make it Europe’s largest DIY retailer, according to the company. It’s present in 11 countries including Brazil, Italy, and Ukraine with about 115,000 employees. Adeo says it no longer exercises operational control over its Leroy Merlin subsidiary in Russia following the war in Ukraine.
Blondiaux, with his financial background, will likely be assigned to the board’s audit committee and work with Jerome Mulliez, a family heir and board member, the people said. By tapping Blondiaux, 61, the Mulliez clan will gain a director with a track record of working with a family-owned business. Chanel is privately held by the billionaire brothers Alain and Gerard Wertheimer.
Frega joined Michelin in 2018 in China and is currently in charge of strategy, China and e-retail for the tire maker. She previously worked at Veolia Environnement SA.
