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
- End of the term of office of Mr Jean-Paul Parayre, Chairman since 2000
- Appointment 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 speaker.
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 21st century.
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.
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Source: VALLOUREC via Thomson Reuters ONE
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