Michel de Rosen

Ladies and gentlemen, dear shareholders, I’m delighted to welcome you to FORVIA’s combined Annual General Meeting. For those of you who do not know me, I’m Michel de Rosen, I’m Chairman of the Board of Directors of FORVIA. And joining me today are Martin Fischer, who is Chief Executive Officer; Olivier Durand, the Chief Financial Officer; and Jill Greene, who’s General Counsel and Company Secretary. Thank you for coming today. I’d like to thank the many shareholders who have already cast their votes by post. And indeed, those following the meeting online. As you know, this meeting is being streamed live on our website. It’s being recorded and will be made available to you. I should also like to thank the members of the Board of Directors who are here with us, in the room or who are following this meeting online. And finally, I’d like to thank everyone who’s helped organize this Annual General Meeting and to ensure it runs smoothly and professionally. FORVIA’s AGM is a key opportunity to provide information and engage with our shareholders on issues critical to the group, your group.

In 2025, despite turbulence and uncertainty, FORVIA delivered a strong performance in terms of sustainability, innovation and indeed commercial momentum while continuing to prepare for the future. As you know, the FORVIA share price nevertheless remained unsatisfactory in 2025 at a level that does not reflect the company’s potential. And although share price has risen, it still remains well below our ambitions. With IGNITE, the new strategy unveiled at our Capital Markets Day on

NEW YORK — A prominent NBA analyst has predicted that LeBron James will leave the Los Angeles Lakers this offseason and sign with the Golden State Warriors to form a formidable partnership with Stephen Curry, potentially setting up one final championship pursuit for the four-time MVP.

Eric Pincus of Bleacher Report outlined the scenario in his latest free agency forecast, suggesting James could accept the non-taxpayer mid-level exception worth approximately $30.8 million over two years, with a player option on the second season. The move would represent a dramatic shift for James, who has spent the last several seasons with the Lakers alongside Luka Dončić, as the franchise prioritizes long-term building around its younger star.

“The Los Angeles Lakers face a significant decision with James,” Pincus wrote. “Even as he nears 42, he continues to be one of the most powerful players in the association. Still, building properly long-term around [Luka] Dončić is the priority. The Lakers have high hopes to take a step forward this summer, and that’s without James. If their plans fail, that could lead to one more season with the future Hall of Famer. A sign-and-trade from the Lakers would require a three-year deal and trigger apron restrictions. The chance to finish his career in Golden State with Curry will be James’ path forward.”

The prediction comes as James, who will turn 42 in December, enters a critical juncture in his legendary career. After helping guide the Lakers to the Western Conference playoffs in 2026, questions remain about the team’s ability to surround him with enough talent to contend for a fifth championship. Golden State, coming off a disappointing 2025-26 season, is viewed as desperate to make a major move to extend its championship window for at least one more year.

James and Curry have maintained a close friendship over the years, frequently praising each other’s accomplishments and competing against one another in All-Star Games and playoffs. Teaming up would create one of the most star-studded duos in NBA history, potentially giving the Warriors the veteran leadership and scoring punch needed to complement Curry’s shooting brilliance and Draymond Green’s defensive intensity.

For the Lakers, losing James would mark the end of an era that began with his return in 2018. The franchise has enjoyed success during his tenure, including a championship in 2020, but recent seasons have highlighted roster construction challenges and the difficulty of balancing James’ win-now window with long-term sustainability around Dončić. A sign-and-trade could help Los Angeles retain assets, but the financial implications under the collective bargaining agreement would complicate future flexibility.

James has long expressed a desire to finish his career on his own terms. Playing alongside Curry in Golden State would offer a chance to chase another title while enjoying a less pressurized environment compared to the constant scrutiny in Los Angeles. The Warriors’ system, built around motion offense and spacing, could allow James to play a more complementary role while still impacting games with his playmaking and experience.

The potential move has already sparked intense debate among fans and analysts. Critics may accuse James of stacking the deck in his favor, similar to his 2010 decision to join Dwyane Wade and Chris Bosh in Miami or his 2014 return to Cleveland alongside a young Kyrie Irving and Kevin Love. Supporters argue that at this stage of his career, James has earned the right to choose a situation that maximizes his chances for success and enjoyment.

Golden State’s roster would undergo significant changes to accommodate James. With Curry still producing at an elite level and Green providing leadership, the Warriors could form a Big Three that rivals their championship-era groups. The addition of James’ basketball IQ and versatility would create matchup nightmares for opposing defenses and elevate the play of younger teammates.

Financially, the mid-level exception offer would represent a substantial pay cut for James, who has earned hundreds of millions during his career. However, the opportunity to compete for a title in a familiar Western Conference environment with a close friend could outweigh the monetary difference. James has previously taken less money to facilitate roster improvements, showing a willingness to prioritize winning.

The Lakers would face difficult decisions in the aftermath. With Dončić as the clear franchise cornerstone, the front office could accelerate its youth movement and pursue complementary pieces through free agency and the draft. A sign-and-trade involving James could bring back valuable assets to aid the rebuild, though the immediate on-court impact of his departure would be significant.

NBA insiders suggest the Warriors are highly motivated to make a splash this offseason after missing the playoffs. Pairing James with Curry would generate massive media attention and ticket sales while giving the franchise a legitimate chance to contend. The move would also appeal to James’ desire to finish his career among the game’s greats, potentially creating unforgettable moments alongside one of the greatest shooters in league history.

James’ representatives have not commented publicly on the prediction, and the Lakers have maintained their commitment to building around both James and Dončić for the upcoming season. However, the fluidity of the NBA offseason means scenarios can shift rapidly based on salary cap space, player options and trade discussions.

For James, the decision carries weight beyond basketball. At 41 years old and entering his 24th season, he continues to defy conventional expectations for player longevity. Teaming with Curry could provide a fitting late-career chapter, allowing him to mentor younger players while chasing one more championship.

The basketball world will closely monitor developments as free agency approaches. Whether James stays with the Lakers, returns to Cleveland or makes the bold move to Golden State, his next chapter will be one of the most anticipated storylines of the 2026 offseason.

Pincus’ prediction adds fuel to an already heated debate about James’ future. As one of the most accomplished players in NBA history, his choice will have ripple effects across the league, influencing roster construction, salary cap strategies and competitive balance for years to come.

Golden State’s appeal lies in its culture of winning and the opportunity to play with Curry, whose shooting gravity would create unprecedented spacing for James’ drives and playmaking. The Warriors’ coaching staff and front office have experience integrating superstar talent, which could ease the transition.

For Lakers fans, the possibility of James’ departure represents the end of an era that brought joy, championships and unforgettable moments. The franchise’s focus on Dončić suggests a willingness to move forward, but losing a player of James’ caliber would require careful management to maintain contention.

As the NBA offseason heats up, all eyes remain on James. His decision, whenever it comes, will shape the landscape of the league and provide another chapter in one of basketball’s most remarkable careers. Whether he stays, returns home or joins forces with Curry, the four-time MVP continues to command the spotlight like few others in sports history.

ET Now: Talking of expectations from Narendra Modi, do not you think too much hope and money in essence is riding behind one man? Despite his good intentions, there are structural problems in the economy and even the Prime Minister does not quite have a magic wand?

KV Kamath: If you look back to 10 years ago, the economy was getting into near double digit growth even with all the structural problems. Now you have a leader who has a known bias for fixing things and making sure that things work. It is the same set of structure, the same set of people who are driving this. You have the right leader who can drive the effort.

ET Now: The other day we had Mr. Birla meet the Finance Minister and as he walked out of the meeting, he said he expects the economy to revive in three to six months. He says he is going to start investing in India now. We have not heard too many corporate leaders say that. You have a pulse of the mood of corporate India. When do you think will the corporate leaders start investing?

KV Kamath: The first sense comes from the market. It is the collective wisdom of the marketplace that there is action and we will move with speed. That improves the confidence level of industry. Now we need to see whether some of the ground conditions that are needed for people to get back to an investment mode are going to change. Today I read that with a large slate of reforms or projects which have been stuck are going to be addressed in the next few days. If that happens, you will see a sea change in the investment mindset, as it were.

ET Now: It could happen in three months itself. Is that what you think?