Maïlys Ferrère
Director at DBVT
Board
About Maïlys Ferrère
Maïlys Ferrère is a director of DBV Technologies and has served on the Board since June 2016 (previously a non-voting observer since the March 2012 IPO) . As of April 15, 2025, she is 62; she is Head of Large Venture Investment Activity at Bpifrance (since October 2013) and CEO of Cornovum S.A. . She graduated from Institut d’Etudes Politiques Paris, began her career in Internal Audit at Société Générale, and worked across French banks in equity capital markets origination between 1987–2009 . She is affiliated with a significant shareholder (Bpifrance) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Société Générale | Internal Audit (early career) | Not disclosed | Banking audit foundation |
| Various French banks | Equity capital markets origination | 1987–2009 | Capital markets origination experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Bpifrance | Director; Head, Large Venture Investment Activity | Since Oct 2013 | Affiliated with significant shareholder |
| Cornovum S.A. | Chief Executive Officer | Not disclosed | Holding company |
| Valneva S.A. | Director | 2016–2019; since May 2022 | Public biotech board service |
| Sequans Communications S.A. | Director | Jun 2017–Jun 2023 | Public semiconductor company |
| Innate Pharma S.A. | Director | 2017–2021 | Oncology-focused biotech board service |
| GenSight Biologics S.A. | Director | 2016–2019 | Public biotech board service |
Board Governance
- Independence: The Board affirmatively determined all directors other than CEO Daniel Tassé are independent under Nasdaq standards; under French law, Ferrère is classified as non‑independent along with Tassé and Goller .
- Committee assignments: Nominating & Governance Committee member; Michael J. Goller is Chair. Not a member of Audit or Compensation .
- Attendance: In FY2024, the Board met 22 times; each director attended at least 94% of Board meetings and 100% of their committee meetings. The Nominating & Governance Committee held 1 meeting in FY2024 .
- Term and mandate: Director term expires at the General Meeting to approve FY2025 financials (held in 2026). No employment contract or service agreement; revocation per French law and case law; notice period N/A .
| Governance Item | Detail | Evidence |
|---|---|---|
| Board service start | June 2016 | |
| Current term expiry | 2026 AGM (approving FY2025) | |
| Independence (Nasdaq) | Independent | |
| Independence (French law) | Non‑independent | |
| Committee membership | Nominating & Governance (member) | |
| Committee chair roles | None | |
| FY2024 Board meetings | 22 | |
| Attendance FY2024 | ≥94% Board; 100% committees | |
| Nominating & Governance meetings FY2024 | 1 |
Fixed Compensation
Ferrère does not accept remuneration for board service as a representative of Bpifrance; reported cash fees, warrant awards, and other compensation are zero.
| Metric (USD) | FY2023 | FY2024 |
|---|---|---|
| Fees Earned or Paid in Cash | $0 | $0 |
| Warrant Awards (grant date fair value) | $0 | $0 |
| All Other Compensation | $0 | $0 |
| Total | $0 | $0 |
| Policy note | “No remuneration… accepted” (representative of Bpifrance) | “No remuneration… accepted” (representative of BPI France) |
Additional board compensation policy (context): Standard policy entitles non‑employee directors to €100,000 annual retainer; committee chairs receive €10,000–€20,000; committee members €5,000; payouts pro‑rated for <90% attendance; maximum annual board pool proposed to increase from €800,000 to €900,000 in 2025 subject to AGM approval .
Performance Compensation
- Long-term compensation policy allows potential grants of share subscription warrants (BSA) to directors at fair market value; however, Ferrère did not receive warrants .
- No RSUs, PSUs, or stock options disclosed for non‑employee directors; company notes no other stock awards/options held as of Dec 31, 2024 .
| Item | FY2023 | FY2024 |
|---|---|---|
| Non‑employee warrants held (#) | 0 (not granted; footnote indicates no remuneration accepted) | 0 (not granted; footnote indicates no remuneration accepted) |
| RSUs/PSUs/Options | Not disclosed for directors | None held by non‑employee directors as of year‑end |
| Performance metrics tied to director pay | None disclosed | None disclosed |
| LT policy note | BSA warrants may be granted at FMV | BSA warrants may be granted at FMV |
| Policy evidence |
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Notes |
|---|---|---|---|
| Valneva S.A. | Public biotech | Director | Since May 2022; prior 2016–2019 |
| Sequans Communications S.A. | Public semiconductor | Director | Jun 2017–Jun 2023 |
| Innate Pharma S.A. | Public biotech | Director | 2017–2021 |
| GenSight Biologics S.A. | Public biotech | Director | 2016–2019 |
| Bpifrance | State-owned investment bank | Director; Head, Large Venture | Affiliated with ~12.16% holder (Bpifrance Participations S.A.) |
| Cornovum S.A. | Holding company | CEO | External executive role |
Expertise & Qualifications
- Capital markets and banking experience, including Internal Audit at Société Générale and ECM origination across multiple banks (1987–2009), and leadership in venture investing at Bpifrance .
- Education: Institut d’Etudes Politiques Paris; legal studies noted (bachelor in law) .
- Board asserts her banking and capital markets expertise adds value to DBV .
Equity Ownership
| Item | Value | Evidence |
|---|---|---|
| Personal beneficial ownership (shares) | — (none reported) | |
| Personal % of shares outstanding | — | |
| Affiliation with significant shareholder | Bpifrance Participations S.A. beneficially owns 17,455,376 shares (12.16%) | |
| 5% holders context | Baker Bros. 17.14%; Bpifrance 12.16%; others listed |
Insider Trades
| Period | Person | Filings/Transactions | Notes |
|---|---|---|---|
| 2024–2025 | Maïlys Ferrère | Not disclosed in DBV proxy materials | Beneficial ownership table lists “—”; no personal holdings reported |
Note: SEC Form 3 filings around March–May 2025 identify Bpifrance-related entities as directors/10% owners with ordinary shares and pre-funded warrants; these are entity-level filings and not personal filings by Ferrère .
Governance Assessment
- Independence and conflicts: Under Nasdaq, Ferrère is independent; however, under French law she is non‑independent due to affiliation with Bpifrance, a significant shareholder. The Board proposed and shareholders approved related‑party agreements involving Bpifrance (pre‑funded warrants and registration rights) in March 2025—these are appropriately treated as regulated agreements under French law, but highlight potential influence/interlock risk for governance watchers .
- Compensation alignment: She accepts no director remuneration (cash or warrants), which removes direct pay conflicts but also leaves limited personal equity alignment (no reported personal beneficial ownership) .
- Engagement: Attendance was strong in 2024 (≥94% Board; 100% committees), but the Nominating & Governance Committee met only once, placing emphasis on ensuring robust succession and governance cadence in 2025–2026 .
- Committee influence: As a Nominating & Governance Committee member, Ferrère participates in director nominations and succession planning; Goller serves as Chair, adding another link to significant shareholders (Baker Bros.) on this committee, which may warrant investor scrutiny of independence dynamics in practice even when formal requirements are met .
RED FLAGS
- Non‑independent classification under French law due to significant shareholder affiliation .
- Related‑party transactions with Bpifrance approved (pre‑funded warrants and registration rights), creating ongoing interlock considerations .
- No personal share ownership disclosed, limiting “skin‑in‑the‑game” alignment despite strong attendance .
Positive Signals
- Strong attendance and broad capital markets expertise .
- No director fees or equity warrants accepted, reducing direct compensation conflicts .