Board/Management Information • Jun 16, 2022
Board/Management Information
Open in ViewerOpens in native device viewer
P R E S S R E L E A S E – J U N E 1 6 , 2 0 2 2
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.
"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."
H1 2022 results – Publication of NAV as of June 30, 2022 (pre-market release)
Publication of consolidated first-half financials (pre-market release)
Q3 2022 trading update – Publication of NAV as of September 30, 2022 (pre-market release)
Wendel is one of Europe's leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as Bureau Veritas, ACAMS, Constantia Flexibles, Crisis Prevention Institute, IHS Towers, Stahl and Tarkett. Wendel often plays an active role as a controlling or significant shareholder in its portfolio companies. Wendel seeks to implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Moody's ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
For more information: wendelgroup.com
Christine Anglade Pirzadeh : + 33 1 42 85 63 24 Olivier Allot : +33 1 42 85 63 73 [email protected] [email protected]
Caroline Decaux : +33 1 42 85 91 27 Lucile Roch : +33 (0)1 42 85 63 72 [email protected] [email protected]
Alexis de Maigret / Jawad Khatib : +33 6 12 66 22 49 Vae Solis Communications [email protected]
Todd Fogarty : + 1 212 521 4854 Kekst CNC [email protected]
Press contacts Analysts and investors contacts
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.