REXEL

REXEL ADOPTS NEW GOVERNANCE STRUCTURE

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.