VALLOUREC : VALLOUREC : Vallourec announces the appointment of Vivienne Cox as
Chairman of its Supervisory Board
Vallourec announces the appointment of
Vivienne Cox as Chairman of its Supervisory Board
oEnd of the term of office of Mr Jean-Paul Parayre, Chairman since 2000
oAppointment of Ms Vivienne Cox, Supervisory Board member since 2010
Boulogne-Billancourt, 17 April 2013 - At its meeting on 27 March 2013, the
Vallourec Supervisory Board appointed Ms Vivienne Cox as its Chairman with
effect from the close of the Annual Shareholders' Meeting on 30 May next. Ms
Cox will succeed Mr Jean-Paul Parayre, whose term of office will end at the
close of the Meeting. Mr Parayre, who joined the Vallourec Supervisory Board
in 1989, has been its Chairman since 2000.
The Supervisory Board and the Management Board expressed their gratitude to Mr
Parayre for his decisive contribution to the development of Vallourec. Under
his chairmanship, Vallourec pursued an ambitious international growth
strategy, which led it to become a technology leader able to serve clients all
over the world in the growing oil and gas markets. This strategy resulted in
an exceptional value creation for the Group and its shareholders, whilst
enabling Vallourec to maintain its independence.
Jean-Paul Parayre said: "Vivienne Cox has all the qualities needed to chair
the Vallourec Supervisory Board: in addition to her industrial experience with
a major international oil company, she has held prominent executive posts and
has first-hand experience of dual management structures in several listed
companies. Since joining the Vallourec Supervisory Board in 2010, these
qualities, combined with her extensive knowledge of the energy sector, have
enriched the work of the Board and of the Strategy Committee, which she has
chaired since 2011.Her experience will further enhance the quality of
governance at Vallourec."
A British national and a graduate of Oxford University and INSEAD, and an
Honorary Doctor of the University of Hull, Vivienne Cox spent her entire
career with the BP Group, which she joined in 1981. She initially held
commercial positions with BP Chemicals and was an analyst with BP Finance
before running the Commodity Derivatives trading team. In 1993, she became
Chief Executive of BP's Benelux refining and supply organization before being
appointed Commercial Director of BP Central and Eastern Europe in Vienna. In
1997, she became Chief Executive of Air BP, and then took on the management of
BP's supply and trading organization.
In 2004, Vivienne Cox became an Executive Vice President, in charge of one of
the three operating divisions, Gas, Power and Renewables. From 2007 to 2009,
she set up and ran BP Alternative Energy. Vivienne Cox is a director of
several companies and institutions including Rio Tinto, Pearson, BG and
INSEAD, and currently holds various positions on behalf of the British
Government, including as a member of the Airports Commission and of the Board
of the Department for International Development. Vivienne Cox is a French
Vallourec is a world leader in premium tubular solutions primarily serving the
energy markets, as well as other industrial applications.
With over 23,000 employees, integrated manufacturing facilities, advanced R&D
and a presence in more than 20 countries, Vallourec offers its customers
innovative global solutions to meet the energy challenges of the 21^st
Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and
eligible for the Deferred Settlement System (SRD), Vallourec is included in
the following indices: MSCI World Index, Euronext 100 and CAC 40.
In the United States, Vallourec has established a sponsored Level 1 American
Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY).
Parity between ADR and a Vallourec ordinary share has been set at 5:1.
FOR FURTHER INFORMATION, PLEASE CONTACT
Tel.: +33 (0) 1 41 03 77 50
Tel.: +33 (0) 1 49 09 35 58
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: VALLOUREC via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.