WENDEL: Implementation of the succession plan for the Chairman of the Executive Board of Wendel
June 16 2022 - 1:30AM
WENDEL: Implementation of the succession plan for the Chairman of
the Executive Board of Wendel
PRESS RELEASE –JUNE 16, 2022
Implementation of the succession plan
for the Chairman of the Executive Board of
Wendel
André Francois-Poncet has informed Wendel’s
Supervisory Board of his wish to hand over his mandate as Wendel’s
Group CEO in the near future in order to pursue personal interests.
He will continue to serve as Group CEO until the end of the
recruitment process and onboarding of the future CEO and he is
working hand in hand with Wendel's Governance and Sustainable
Development Committee to that end.
The name of the new Group CEO will be announced
during the second half of the year. He/she will team up with David
Darmon, Member of the Executive Board and deputy Group Chief
Executive Officer.
Nicolas ver Hulst, Chairman of Wendel's
Supervisory Board, said:
"The Supervisory Board of Wendel acknowledged
with regret André François-Poncet’s upcoming resignation. On behalf
of the Board, I would like to thank him for the remarkable work he
has accomplished at Wendel during almost five years. André has
perfectly executed the mission we entrusted him with at the
beginning of 2018, and he did so in spite of extremely challenging
economic conditions resulting from the pandemic and the war in
Ukraine. He will leave a stronger firm with an NAV which stood at
its record high a few months ago, a deleveraged balance sheet, and
a sound portfolio. From an operational perspective, he has
transformed Wendel, with an organization refocused on Europe and
North America, and he has strengthened our teams which are more
focused on supporting our portfolio companies, as evidenced by
their own excellent performance and top-notch CEOs. Lastly, he
nurtured a strong ESG culture which today enables Wendel to stand
out in our sector with recognized achievements.
Thanks to this transformation, the new cycle of
portfolio redeployment set out in the 2021-2024 roadmap is well
underway, with recent investments in Tarkett and ACAMS which
followed our investment in CPI. We also thank André for his
involvement in the selection process for the future Group CEO and
for ensuring any necessary transition.”
- Wendel_PR_Succession plan_160622
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