VALLOUREC

Continuing its transformation, Vallourec adapts its organization

	Press Release

Continuing its transformation, Vallourec adapts its organization

Boulogne-Billancourt, January 18 2017 - Vallourec, world leader in premium tubular solutions, announces today adaptations to its organization designed to enable the company to benefit fully from its Transformation Plan.

The new organization aims to strengthen the Group's customer focus in each of its regions, to optimize the use of its global resources, and to boost its development.

It will be structured around:

• Four regions: North America, South America, Europe/Africa (EA), and the Middle East/Asia (MEA)

These four regions, in charge of sales and industrial operations within their geographies, will be headed respectively by Nicolas de Coignac, Alexandre Lyra, Hubert Paris, and Edouard Guinotte.
             

• Two new central departments:

The Development and Innovation Department (D&I) will design and implement the development strategy of the product lines. It will also be responsible for innovation and R&D. The department will be led by Didier Hornet, currently Senior Vice President Eastern Hemisphere.

The Technology and Industry Department (T&I) will design the Group's industrial strategy, aiming to continue to improve its cost base. It will also be responsible for technology, Group sourcing, and global planning. Philippe Carlier, currently Senior Vice President Europe, will lead this department.

The new organization will take effect on 3 April 2017.

From this date, the Executive Committee will be made up of 11 members: Philippe Crouzet, Chairman of the Management Board, Jean-Pierre Michel, Olivier Mallet, Chief Financial Officer, François Curie, Vice President Corporate Human Resources, and Stéphanie Fougou, Group General Counsel, as well as the four regional directors and two directors of central departments.
Jean-Pierre Michel will retire at the end of 2017, having contributed along the year as part of the Executive Committee to the effective implementation of the new organization. He will leave the Management Board on March 31 2017, which will subsequently comprise Philippe Crouzet and Olivier Mallet.