Change in governance
Separation of the roles of Chairman of the Board of Directors and Chief Executive Officer
Appointment of Jacques Pétry as Chairman of the Board of Directors and Frédéric Moyne as Chief Executive Officer
On the proposal of Jacques Pétry, Chairman and Chief Executive Officer, at its meeting on 1 March 2016, the Board of Directors decided to separate the role of Chairman of the Board of Directors from that of Chief Executive Officer.
As from 1 June 2016, and for a four-year term of office, Jacques Pétry will perform the duties of Chairman of the Board of Directors. Frédéric Moyne, until now Chief Operating Officer, will perform the duties of Chief Executive Officer.
Frédéric Moyne, aged 40, is a graduate of the Hautes études Commerciales (HEC) business school. In 2001, he joined Séchilienne-Sidec, which became Albioma, where he was in charge of Financing and Purchasing, then Director of Financing and Investor Relations. In 2012, he was promoted to Chief Operating Officer in charge of Renewable Energies and Group strategy. Since July 2013, he has been in charge of the Group's activities in Brazil.
Jacques Pétry will ensure that the strategy defined by the Board of Directors is implemented. He will represent the Company in its dealings with major partners, shareholders and supervisory authorities. He will support the Chief Executive Officer in his new duties to ensure a seamless transition.
Frédéric Moyne, in his capacity as Chief Executive Officer, will implement, as part of his day-to-day activities, the strategy approved by the Board of Directors and will have the broadest powers to act in all circumstances on the Company's behalf and represent it in its dealings with third parties.
In addition to this new organisation, the Board of Directors decided to create a Lead Director role within the Board. The Lead Director will be responsible for coordinating the work of Independent Directors and providing representation on their behalf. This new role was assigned to Michel Bleitrach, Independent Director and Vice Chairman of the Board of Directors.
Jacques Pétry, Chairman and Chief Executive Officer, commented: "Frédéric Moyne is a highly-talented man. His understanding of the Group's expertise and challenges is a major asset for the development of Albioma. He has successfully initiated the Group's development in Brazil amidst challenging market conditions. I trust his ability to succeed in his new role and to implement, at my side, the Group's profitable growth strategy."
Detailed information on the elements of the remuneration awarded by the Board of Directors to the Chairman of the Board of Directors and to the Chief Executive Officer is available on the Company's website, www.albioma.fr.
Next on the agenda: revenue for the first quarter of the 2016 financial year, on 27 April 2016 (before trading).
Albioma is an independent energy producer and world leader in the conversion of biomass into a highly-effective source of energy, in collaboration with its agri-business partners. For more than 20 years, Albioma has operated power plants recovering bagasse, a fibrous by-product of sugar cane, replaced by coal outside the sugar cane harvest. Its unique expertise has enabled Albioma to establish itself as an indispensable partner in the sugar and ethanol industry in the French overseas territories and Mauritius. Albioma is now developing power plants using only biomass, which recover, in addition to bagasse, green waste and wood industry residue. The Group also operates a highly-efficient photovoltaic installation and agricultural anaerobic digestion units. In 2014, the Group, which already had a presence in mainland France, the French overseas territories and Mauritius, began operating in Brazil, the world's leading sugar cane producer.
For further information, please visit www.albioma.com
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Investor contacts
Julien Gauthier
julien.gauthier@albioma.com
+33 (0)1 47 76 67 00
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Media contacts - LPM Strategic Communications
Luc Perinet-Marquet
lperinet@lpm-corporate.com
+33 (0)1 44 50 40 35
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Albioma shares are listed on Euronext Paris (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans.
ISIN FR0000060402 - Ticker: ABIO
