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New board members for Vallourec

Published by
World Pipelines,


In its 17 February 2016 session, the Vallourec Supervisory Board decided to submit to the vote of the shareholders' annual General Assembly on 6 April 2016 the appointment of the firm Bpifrance Participations as Supervisory Board member, for a term lasting four years, or until completion of the Ordinary General Assembly convened to rule on the accounts of the financial year ending 31 December 2019. Bpifrance is a key shareholder that has demonstrated its long-term commitment alongside the company.

During this same session, the Supervisory Board decided to submit to the vote of the annual General Assembly the renewal of the terms of Messrs. Olivier Bazil, José Carlos Grubisich and Pierre Pringuet, which are set to expire, for a four year period, extending until completion of the Ordinary General Assembly convened to rule on the accounts of the financial year ending 31 December 2019.

The Supervisory Board also decided to co-opt Laurence Broseta as a Supervisory Board member to replace Michel de Fabiani, who will be resigning effective 5 April 2016. The ratification of Broseta's appointment will be proposed during Vallourec shareholders' annual General Assembly held next on 6 April.

Broseta is currently Managing Director of Transdev's French operations. She possesses tremendous industrial experience and performs managerial functions both in France and internationally. She sits on the Thales Board of Directors. The Supervisory Board considered that Ms. Laurence Broseta is definitely qualified to serve as an independent member.

Moreover, the Supervisory Board decided, effective 5 April 2016, to appoint Pierre Pringuet as Member and President of the Committee of Nominations, Remuneration and Governance, to replace Michel de Fabiani.

The Supervisory Board President and all board members would like to thank Michel de Fabiani, who is resigning, and Jean-François Cirelli, whose term as Supervisory Board member expires upon completion of the next General Assembly, for their active involvement and contribution to advancing the Supervisory Board's agenda.

Bpifrance participations

Bpifrance proposes a full spectrum of financing to companies at each major step of their development, along with an offering adapted to regional specificities. As part of Bpifrance's equity investment services, Bpifrance Participations focuses its investments in both large and medium-sized corporations, to accompany their growth in France as well as abroad. Bpifrance Participations is a minority shareholder involved in governance aspects, in addition to being a long-term investor able to adapt to companies' various development cycles. Bpifrance Participations will be represented by Bertrand Finet, who serves as Executive Director for large- and mid-cap investment.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/19022016/new-board-members-for-vallourec/


 

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