A voice at every level: how open debate works at Astorg
How does open debate shape better decisions in private equity?
At Astorg, accessible leadership is not simply about having an open door. It is about creating an environment where people are expected to have a point of view — and where that point of view can be questioned, tested and strengthened.
Sonia D'Emilio
Partner, Chief Human Capital Officer
Sonia D'Emilio
Partner, Chief Human Capital Officer
Sonia joined Astorg in 2019 and is responsible for the Organisation and Human Resources function across the firm. Since joining, she has established the Group’s HR function with a strong emphasis on talent management and development. She is a member of the Executive Committee.
Prior to Astorg, Sonia was Group Head of People, Organization and Development at LafargeHolcim, where she led global initiatives in succession planning, leadership development, and talent strategy.
Earlier in her career, she spent ten years as a Senior Partner at Whitehead Mann (now Korn Ferry), specializing in executive search and assessment. She previously worked as an investor at Apax Partners in Paris, and began her career at Arthur Andersen, later joining Eli Lilly in a variety of sales and marketing roles.
Sonia is based in Paris and is a graduate from the London School of Economics and from INSEAD.
Good ideas are expected to be challenged
Tobias Nordblom, Managing Director Healthcare, recalls discussing a new acquisition opportunity with one of Astorg’s Managing Partners shortly after another transaction had been signed.
“Being heard is not only about someone listening to you, but also challenging you.”
They discussed the risks, opportunity and timing. That exchange helped build the internal conviction to pursue an acquisition that Tobias says became instrumental to building the business.
Different viewpoints are part of the process
Parinaz Bhot, Director in Capital Markets, describes situations where she has held a different view on a financing approach from someone more senior.
“I never really feel that I am unable to express my view, if that view is a contrary view to somebody, even if that person is more senior to me.”
What matters is not whether her recommendation ultimately wins, but that it is properly considered: “Here’s your idea. Let’s discuss it, let’s brainstorm it.”
For Parinaz, that openness to different viewpoints is part of how Astorg improves decisions and evolves the way it works.
That expectation is also explicit at leadership level. For Benjamin Cordonnier, Co-Managing Partner and CEO, accessible leadership is not about having every answer; it is about setting direction while making room for discussion.
When Astorg defined its next phase of development, employees across functions and levels were invited to contribute to the discussion about what should change and where the firm should go next.
The exercise reinforced the value of hearing from across the organization:
“Every layer of the organization had interesting and meaningful things to say.”
That willingness to listen is not about creating consensus for its own sake. It is about making better decisions by bringing more perspectives into the room.
Creating space for different perspectives
Sometimes being heard starts with someone actively inviting you into the conversation.
Not long after joining Astorg, Mariann Ternai, Investment Manager, remembers a Partner bringing her into an internal discussion and specifically asking for her perspective.
“They made sure that my voice was part of the discussion.”
For her, those everyday interactions helped build the confidence to contribute more fully over time.
“We create the best conditions to collectively learn and have impact, no matter role and seniority, as every voice is important.”
Listening is part of performance
Astorg’s leadership philosophy is built around open dialogue, questioning and constructive challenge. Leaders are expected to listen, but employees are equally expected to bring a point of view.
The result is not consensus for its own sake. It is better thinking.
This reflects something fundamental to Astorg’s culture: humility is not about having fewer opinions. It is about being willing to listen, challenge assumptions and let the reasoning move the conversation forward.
At Astorg, opportunity to be heard means having a voice — and being expected to use it.
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Sonia D'Emilio
Partner, Chief Human Capital Officer
Sonia joined Astorg in 2019 and is responsible for the Organisation and Human Resources function across the firm. Since joining, she has established the Group’s HR function with a strong emphasis on talent management and development. She is a member of the Executive Committee.
Prior to Astorg, Sonia was Group Head of People, Organization and Development at LafargeHolcim, where she led global initiatives in succession planning, leadership development, and talent strategy.
Earlier in her career, she spent ten years as a Senior Partner at Whitehead Mann (now Korn Ferry), specializing in executive search and assessment. She previously worked as an investor at Apax Partners in Paris, and began her career at Arthur Andersen, later joining Eli Lilly in a variety of sales and marketing roles.
Sonia is based in Paris and is a graduate from the London School of Economics and from INSEAD.
