REXEL :REXEL ADOPTS NEW GOVERNANCE STRUCTURE
(Thomson Reuters ONE) -
REXEL ADOPTS NEW GOVERNANCE STRUCTURE AND SPLITS THE ROLES OF CHAIRMAN OF THE
BOARD AND CHIEF EXECUTIVE OFFICER
* Rudy Provoost stepping down as Chairman and Chief Executive Officer as of
June 30, 2016
* François Henrot appointed Chairman of the Board of Directors on an interim
basis effective July 1, 2016
* Ian Meakins to join the Board of Directors on July 1, 2016 and become Non-
Executive Chairman of the Board on October 1, 2016
* Patrick Berard to become Chief Executive Officer, effective July 1, 2016
The Board of Directors of Rexel, a global leader in the professional
distribution of products and services for the energy world, has decided at its
meeting on June 23, 2016 to adopt a new governance structure and split the
duties of Chairman and Chief Executive Officer.
As a result of a divergence of views with the Board of Directors about the
change in governance and Rudy Provoost's approach to implementing the Group's
strategy, he was invited to relinquish his positions of Chairman of the Board
and Chief Executive Officer on June 30, 2016.
Consequently, François Henrot, currently Deputy-Chairman and Senior Independent
Director, has been nominated by the Board of Directors as its Chairman on an
interim basis with effect from July 1, 2016, and Patrick Berard has been
appointed as Rexel's new Chief Executive Officer, also effective July 1, 2016.
Rexel's Board of Directors also decided it will co-opt Ian Meakins as an
independent director in replacement of Rudy Provoost. Mr. Meakins will join the
Board of Directors on July 1, 2016 and become Non-Executive Chairman of the
Board on October 1, 2016.
Mr. Berard's broad industry experience, knowledge of Rexel's business and
excellent management skills will be strong assets for the company. He has
occupied a variety of senior management positions at Rexel since joining the
company in 2003. In his most recent position, he has been in charge of Rexel's
European operations since July 2015.
Mr. Meakins announced earlier this year his intention of retiring from his
current position of CEO of Wolseley plc on August 31, 2016. On October 1, 2016,
he will become Non-Executive Chairman of Rexel's Board of Directors and Mr.
Henrot, who is also Chairman of the Nomination and Compensation Committee, will
resume his previous position of Deputy-Chairman and Senior Independent Director.
Mr. Meakins will bring to Rexel's Board his strong knowledge of B-to-B
distribution, recognised management abilities and an international perspective.
During his tenure at Wolseley, he significantly reshaped the Group into a
focused plumbing, heating and building products distribution business. His
appointment to the Board will be subject to shareholder approval at Rexel's
Annual General Meeting in 2017.
François Henrot declared: "After careful consideration, we have come to the
conclusion that Rexel's interests would be best served by a new governance
structure that will allow management to focus all its efforts on implementing
and executing the Group's strategy under Board oversight. On behalf of the
entire Board of Directors, I would like to express our sincere thanks to Rudy
Provoost for his commitment and contribution to Rexel. Under his stewardship,
Rexel has become a more customer-centric and digital-focused company, which
provide strong foundations on which to build. We are delighted that Patrick
Berard will be taking over as Chief Executive Officer. His deep knowledge of
Rexel's business and strong drive are major assets that will allow Rexel to
accelerate its growth and consolidate its market leadership. I am also thrilled
that Ian Meakins has accepted to join Rexel's Board and to become its Non-
Executive Chairman once he steps down from his current position at Wolseley.
Ian's track-record there, his industry experience and strong management skills
will be key to ensuring strict execution of Rexel's strategy and value creation
for all stakeholders."
Ian Meakins stated: "I am delighted to be joining Rexel's Board of Directors and
subsequently assuming the role of Non-Executive Chairman. Rexel is a leader in
its field with strong potential for further profitable growth. I am convinced
that Patrick Berard and I bring complementary experience and skills to the table
that will drive superior returns for shareholders."
Patrick Berard added: "I am honoured to have been asked by the Board of
Directors to become Chief Executive Officer of Rexel. I intend to build on all
the experience I have gained during my 13 years at the company to accelerate its
growth, capitalizing on Rexel's leading market positions, strong relations with
clients and suppliers, industrial expertise and highly competent teams. I look
forward to working with Rexel's teams and Board of Directors to take the company
forward in a rapidly-evolving energy world."
Biography of François Henrot
François Henrot, 66, is Chairman of Investment Banking of Rothschild and is a
member of the Supervisory Board of Paris-Orléans and of the Board of Directors
of Rothschild Continuation Holding, which control the Rothschild Group. He began
his career in 1975 at the Conseil d'Etat (French Administrative Supreme Court).
In 1978, he joined the Direction Générale des Télécommunications (DGT),
predecessor to France Telecom, where he was appointed Deputy Director of
International Development then Director of Marketing and Sales. In 1985, he
joined the Compagnie Bancaire group, where he held several top executive
positions before being appointed Chief Executive Officer in March 1993. In
1995, François Henrot was appointed to the Management Board of Compagnie
Financière de Paribas, in charge of supervising the group's retail banking
activities, and he became Chairman of the Supervisory Board of the group's
Crédit du Nord retail banking subsidiary. He joined Rothschild in 1997 as
General Partner of Rothschild & Cie Banque. He is a graduated of Paris VI
University, Institut d'Etudes Politiques and Ecole Nationale d'Administration.
Biography of Patrick Berard
Patrick Berard, 63 years old, joined Rexel in 2003 as CEO Rexel France and is
currently Senior Vice President Europe. He became SVP Southern Europe in 2007.
In 2013, he assumed additional responsibility for Belgium and Luxemburg and in
2014 he was appointed SVP Southern, Central and Eastern Europe. Before joining
Rexel, Patrick Berard was CEO of Pinault Bois & Matériaux (2002-2003), part of
the Kering group of companies (formerly PPR). Prior to that, he was Chief
Operating Officer of Antalis (Arjo Wiggins) from 1999 to 2002 and from 1988 to
1999 he held various management positions at Polychrome, including General
Manager Europe and Group Vice-President and Executive Committee member of Kodak
Polychrome Graphics. From 1980 to 1987, Patrick Berard worked as a consultant
for McKinsey before moving to Thomson as Strategic Development Director for
Industry and Engineering. Patrick Berard began his career in 1978 at the Pulp
and Paper Research Institute of Canada. He holds a Doctorate in Economics from
the University of Grenoble.
Biography of Ian Meakins
Ian Meakins, 59 years old, was appointed Wolseley CEO in July 2009. He was
previously Chief Executive Officer of Travelex, the international foreign
exchange and payments business. Previously he was Chief Executive Officer of
Alliance UniChem plc until its merger with Boots in July 2006. Prior to that,
between 2000 and 2004, he was President, European Major Markets and Global
Supply for Diageo plc, spending over 12 years with the company in a variety of
international management positions. He is a Non-Executive Director and the
Senior Independent Director of Centrica plc. He was educated at Cambridge
University.
ABOUT REXEL GROUP
Rexel, a global leader in the professional distribution of products and services
for the energy world, addresses three main markets - residential, commercial and
industrial. The Group supports its customers to be at their best in running
their business, by providing a broad range of sustainable and innovative
products, services and solutions in the field of technical supply, automation
and energy management. Rexel operates through a network of some 2,100 branches
in 35 countries with c. 28,000 employees. The Group's sales were ?13.5 billion
in 2015.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker
RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120,
CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, STOXX600. Rexel is also
part of the following SRI indices: DJSI Europe, FTSE4Good Europe & Global, EURO
STOXX Sustainability, Euronext Vigeo Europe 120 and ESI Excellence Europe.
Finally, Rexel is included on the Ethibel EXCELLENCE Investment Register in
recognition of its performance in corporate social responsibility (CSR). For
more information, visit Rexel's web site at www.rexel.com.
CONTACTS
FINANCIAL ANALYSTS / INVESTORS
Marc MAILLET +33 1 42 85 76 12 marc.maillet(at)rexel.com
Florence MEILHAC +33 1 42 85 57 61 florence.meilhac(at)rexel.com
PRESS
Pénélope LINAGE +33 1 42 85 76 28 penelope.linage(at)rexel.com
Brunswick: Thomas KAMM +33 1 53 96 83 92 tkamm(at)brunswickgroup.com
Rexel adopts new Governance structure:
http://hugin.info/143564/R/2022977/751590.pdf
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Source: REXEL via GlobeNewswire
[HUG#2022977]
Unternehmensinformation / Kurzprofil:
Datum: 24.06.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 479811
Anzahl Zeichen: 11623
contact information:
Town:
Paris
Kategorie:
Business News
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