The conversion would see Jean-Christian Bergeron proposed as chairman of the management board, alongside Marc Jacquot, who oversees finance, IT and renewables, and Fred Royer, responsible for bitumen and business development.
Under the proposal, the general partners’ specific rights would be extinguished in exchange for 12.7 million newly issued Rubis shares, a figure the company said falls within the range set by independent expert Ledouble, which was appointed by the supervisory board. The former general partners would become reference shareholders and commit to retaining their shares for at least two years.
The supervisory board, which unanimously endorsed the proposal, would retain its 11 current members and add Jacques Riou and Clarisse Gobin-Swiecznik. Marc-Olivier Laurent would remain chairman.
Rubis said the simplified legal structure would give the group a stronger stock market profile and greater strategic and financial flexibility for acquisitions.
The conversion is subject to the French financial markets authority (AMF) confirming that no mandatory tender offer is required, and to shareholder approval at a meeting expected on 9 December 2026.
The managing general partners said: “With this conversion, we aim to open a new chapter in the group’s development, drawing on an experienced management team that has in-depth knowledge of the group and shares its values. As anchor shareholders, we will remain fully committed to working alongside this team to support Rubis through this next stage in its history.”