Latécoère: Governance: Changes in the Board of Directors and Its Committees
28 January 2020 - 3:40AM
Business Wire
Regulatory News:
The Board of Directors of Latécoère (Paris:LAT) met on January
22nd to take into account the change in the distribution of the
Company's share capital following the success of the takeover bid
initiated by Searchlight, which resulted in the latter holding
65.55% of share capital. The Board has taken note of the
resignations of Mrs Isabelle Azemard and Mrs Nathalie Stubler, both
independent directors; the Company thanks them for the diligence
and professionalism that each of them have shown in the performance
of their duties. The Board also co-opted Mr. Philip Swash as
director representing the interests of Searchlight, replacing Mrs.
Isabelle Azemard.
The Board is therefore currently made up of 8 directors,
including one who represents the employees, and the number of
independent directors has been revised to two (instead of four
previously) to take into account the new distribution of the share
capital. Governance remains in line with the principles defined for
companies controlled by the Middlenext Code to which the Company
refers.
Excluding future changes in share capital, as the number of
directors on the Board is to be maintained at nine, including one
representing employees, Searchlight has initiated a targeted search
for a new director representing its interests in order to propose
to the Board of Directors its co-option to the vacant position of
Mrs. Nathalie Stubler.
The Board will propose to the General Meeting of 13 May 2020 to
ratify the cooptation of Mr Philip Swash as director representing
the interests of Searchlight, replacing Mrs Isabelle Azemard.
Following these changes, the Board announces a change in the
composition of its Audit and Risks Committee. Mrs Helen Lee
Bouygues is appointed to replace Mrs Nathalie Stubler. This
Committee is now composed of the following members: Claire
Dreyfus-Cloarec (Committee Chairman), Helen Lee Bouygues and Ralf
Ackermann.
Similarly, the Board announces the modification of its
Nominations and Remuneration Committee. Mrs Helen Lee Bouygues is
appointed Chairman of this Committee, replacing Mrs Isabelle
Azemard. Claire Dreyfus Cloarec has announced her intention to
resign from this Committee. Following these changes, this Committee
is now composed of the following members: Helen Lee Bouygues
(Chairman), Pierre Gadonneix and Ralf Ackermann.
The Board also announces the modification of its Strategy
Committee. Pierre Gadonneix is appointed Chairman of the Committee
to replace Nathalie Stubler. This Committee is made up of the
following members Pierre Gadonneix, Yannick Assouad, Claire
Dreyfus-Cloarec, Ralf Ackermann, Grégoire Huttner and Philip
Swash.
Philip Antony Swash, a British national, is a Chartered
Engineer of the Institute of Engineering & Technology, a Fellow
of the Royal Aeronautical Society and an Honorary Fellow of
Liverpool John Moores University. He holds a BEng (Hons) Degree in
Mechanical & Production Engineering.
Philip Antony Swash began his career as a mechanical engineer.
From 1995 to 2007, he was responsible for Airbus Wing
Manufacturing. From 2007 to 2018, Philip Antony Swash joined GKN
where he held the positions of CEO of GKN European Aerospace &
Global Special Products Group, CEO of GKN Land Systems & Group
Executive Committee and then CEO of GKN Automotive and member of
the Board of Directors of GKN PLC.
About Latécoère
Latécoère is a tier 1 partner to major international aircraft
manufacturers (Airbus, Embraer, Dassault, Boeing and Bombardier),
in all segments of the aeronautical market (commercial, regional,
corporate and military aircraft), specializing in two fields:
- Aerostructures (58% of total revenue): fuselage sections and
doors.
- Interconnection systems (42% of total revenue): onboard wiring,
electrical harnesses and avionics bays.
At 31 December 2018, Latécoère employed 4,958 people in 13
different countries. Latécoère, a French corporation (société
anonyme) with capital of €189,637,036 divided into 94,818,518
shares with a par value of €2 per share, is listed on Euronext
Paris - Compartment B. ISIN codes: FR0000032278 - Reuters: LAEP.PA
- Bloomberg: LAT.FP
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version on businesswire.com: https://www.businesswire.com/news/home/20200127005441/en/
Latécoère Michel Abaza / Chief Financial Officer Tel.:
+33 (0)5 61 58 77 00 michel.abaza@latecoere.aero
FTI Consulting Arnaud de Cheffontaines / Investor
Relations Tel. : +33 (0)1 47 03 69 48 Mathilde Jean / Relations
Media Tel. : +33 (0)1 47 03 69 54 latecoere@fticonsulting.com
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