NewsWorldSoitec: shareholders support the CEO's succession process, says the...

Soitec: shareholders support the CEO’s succession process, says the group

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Thursday, the title Soitec fell by 18.2% after the announcement of the appointment of Pierre Barnabé to the general management of the manufacturer of semiconductor materials, where he will replace Paul Boudre, very appreciated by investors who attribute to him the recovery of the group.

PARIS (Reuters) – The succession to the post of CEO of Soitec is the result of “a rigorous decision-making process” conducted with “the full support” of the main shareholders, the group said in a press release on Friday.

Thursday, the title Soitec fell by 18.2% after the announcement of the appointment of Pierre Barnabé to the general management of the manufacturer of semiconductor materials, where he will replace Paul Boudre, very appreciated by investors who attribute to him the recovery of the group.

The market was also concerned after the publication in the media of a letter, which Reuters was able to consult, from the executive committee of Soitec addressed to the board of directors. In this letter, the executive committee considers the appointment of a new general manager “incomprehensible”, suggesting significant dissension.

“Following the rumors published in the press about the Executive Committee, Eric Meurice, Chairman of the Board of Directors, will do what is necessary to ensure that governance issues, if any, are addressed to ensure the transition of the leadership,” Soitec said on Friday.

(Written by Blandine Hénault, edited by Bertrand Boucey)

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