Rexel’s New CEO Pledges Review of 2020 Targets Amid Recovery
- Company sees full-year sales between 3% decline and 1% growth
- New CEO Berard helped by French construction, oil recovery
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Rexel SA’s new chief executive officer will review the company’s 2020 targets as partial recoveries in the French construction and oil and gas markets help the electrical-equipment maker meet its goals for this year.
The management team will focus on “delivering our 2016 targets, along with reviewing our action plans and updating our 2020 ambitions,” Chief Executive Officer Patrick Berard said in a statement on Friday, adding that he will present the outcome of the review to investors in February. The Paris-based company should be able to benefit in the second half from “the construction recovery in France and a gradual reduction in the negative impact from oil and gas activity, mainly in North America,” the CEO said.