Changes of Governance at Latécoère

Philip Swash Appointed Group Chief Executive Officer

Regulatory News:

The Board of Directors of Latécoère (Paris:LAT) met yesterday, March 17^th, 2020, and decided to reorganize the governance of the Group with immediate effect.

In the Executive Committee:

• Philip Swash, member of the Board of Directors, has been appointed Group Chief Executive Officer.
• Thierry Mootz, former General Manager of the Aerostructures Division, has been appointed Deputy Group Chief Executive Officer, and General Manager of the Interconnection Systems Division.
• Grégoire Huttner has been appointed General Manager of the Aerostructures Division.

In the Board of Directors:

• Caroline Catoire has been co-opted as Director to represent the interests of Searchlight at the Board of Directors after the resignation of Mrs. Yannick Assouad.
• Christophe Villemin has been co-opted as Director to represent the interests of Searchlight at the Board of Directors after the resignation of M. Grégoire Huttner.

Pierre Gadonneix, Chairman of the Board of Directors, commented: “The new leadership team, led by Philip Swash, will prioritize navigating through the current COVID-19 crisis by ensuring the safety as well as continuity of supply to our customers. On the longer term, the leadership team will focus on the development of the company as well as establishing best in class performance of the business.”

“In the name of Latécoère’s Board of Directors and employees, I wish to thank Yannick Assouad for her role as Group Chief Executive Officer in successfully transforming the Company and rebuild reputation and customers’ trust.”

Ralf Ackermann, member of the Board of Directors and representative of the majority shareholder Searchlight Capital Partners declares that Searchlight is fully supportive of the new management team.

As a consequence of these changes, Yannick Assouad and Grégoire Huttner resigned as directors of the board. Yannick Assouad is replaced by Caroline Catoire and Grégoire Huttner by Christophe Villemin.

Mrs Claire Dreyfus-Cloarec has also decided to stop her directorship, her lead directorship, and presidency of the audit and risks committee. A search for a new female independent director is launched to replace her. Once the latter is appointed, the committees of the Board of Directors may be redesigned. In the meantime, Mr Pierre Gadonneix becomes chairman by interim of the audit and risks committee.