Richard Bielle is appointed Chairman of the Management Board - Alain Viry is named Chairman of the Supervisory Board
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CFAO shareholders, meeting in a General Assembly chaired by Alain Viry on October 5, approved a new governance structure made up of a Supervisory and a Management Board, as well as changes in the company's by-laws and governance rules.
Richard Bielle was appointed chairman of the Management, Board, which will also include Olivier Marzloff and Jean-Yves Mazon.
Alain Viry will chair the Supervisory Board, which will include four independent directors and two PPR representatives. The Supervisory board will include an Audit Committee, a Compensation Committee and an Appointments Committee.
About CFAO:
A subsidiary of the PPR group, CFAO is a leading specialized distributor in its core businesses of automobile and pharmaceutical distribution in Africa (excluding South Africa) and the French Overseas Territories. CFAO is a major importer and distributor of motor vehicles and pharmaceutical products, and provides certain logistical, industrial and technological services throughout Africa and the French Overseas Territories. The Group currently has operations in 34 countries, including 31 African countries and seven French Overseas Territories, and has over 10,000 employees. In 2008, CFAO’s total consolidated revenues reached €2,864 million, and its recurring operating income amounted to €277 million. For further information: www.cfaogroup.com
Richard Bielle was appointed chairman of the Management, Board, which will also include Olivier Marzloff and Jean-Yves Mazon.
Alain Viry will chair the Supervisory Board, which will include four independent directors and two PPR representatives. The Supervisory board will include an Audit Committee, a Compensation Committee and an Appointments Committee.
About CFAO:
A subsidiary of the PPR group, CFAO is a leading specialized distributor in its core businesses of automobile and pharmaceutical distribution in Africa (excluding South Africa) and the French Overseas Territories. CFAO is a major importer and distributor of motor vehicles and pharmaceutical products, and provides certain logistical, industrial and technological services throughout Africa and the French Overseas Territories. The Group currently has operations in 34 countries, including 31 African countries and seven French Overseas Territories, and has over 10,000 employees. In 2008, CFAO’s total consolidated revenues reached €2,864 million, and its recurring operating income amounted to €277 million. For further information: www.cfaogroup.com
Contacts
CFAO
Laurence Tovi, Heads of Communications: +33 1 46 23 58 80, ltovi@cfao.com
Emmanuelle Nodale, Investor relations: + 33 01 46 23 56 22, enodale@cfao.com
Brunswick
Thomas Kamm: + 33 1 53 96 83 83, tkamm@brunswickgroup.com
Annexe
Management Biographies:
Richard Bielle
Richard Bielle
Richard Bielle was appointed Chairman of the Management Board on October 5, 2009. He was previously Managing Director of the group and, since 2005 has headed CFAO Automotive. A graduate of Ecole Supérieure de Commerce de Paris (ESCP), Richard Bielle, 46, began his career in financial markets. In 1988, he joined Renault Trucks and held various positions within its Finance department. In 1997, he joined ING Barings as a Senior Manager, heading up project financing. He joined CFAO in 1999 as Director of Development, then, in 2002, became Secretary General of the group, in charge of finance.
Olivier Marzloff
Olivier Marzloff
A member of the Management Board since October 5, 2009, Olivier Marzloff is Chief Finanacial Officer of CFAO. Olivier Marzloff, 50, is a graduate of ISG and a professor at DESCF. He began his career as a Manager in the Audit department of PriceWaterhouseCoopers. In 1994, he joined PPR as head of the group’s internal audit department, and then joined Pinault Distribution as CFO. He was named Secretary General of Pinault Bois et Materiaux (PBM) in 1998, a position which he retained after the sale of PBM to the English group Wolseley in 2003. In 2004, he was named Executive Vice-President and Chief Financial Officer of Redcats USA. Olivier Marzloff joined CFAO in June 2008.
Jean-Yves Mazon
Jean-Yves Mazon
A member of the Management Board of CFAO since October 5, 2009, Jean-Yves Mazon heads Eurapharma, the pharmaceutical division of the group. Jean-Yves Mazon, 60, began his career in Africa, where he held various management positions in the Ivory Coast at Entreprise Miniére et Chimique, and in Nigeria as Managing Director of SCOA Nigeria Ltd. From 1996, when Eurapharma was acquired by CFAO, to 2003, he was Chairman and CEO of Eurapharma. In January 2004, Jean-Yves Mazon was appointed Managing Director of CFAO. In March 2009, he became Vice-Chairman of the Board.
Biography of the Chairman of the Supervisory Board:
Alain Viry
Alain Viry
Alain Viry was named Chairman of the Supervisory Board on October 5, 2009. He was Chairman and CEO of CFAO since May 1997. A graduate of the Institut d’Etudes Politiques in Paris, with a law degree and a diploma from the Institut de Haute Finance, Alain Viry, 60, began his career in 1974 as a financial analyst at Banque de Suez et de l’Union des Mines, which later became Indosuez. He joined Havas as Deputy Financial Director in 1978 and CDME in 1981, as Director of Finance and of Development. He was made, in 1991, International Director of CDME (Europe, North America), which became Rexel in 1993. In April 1994, he became Chairman of Rexel Inc in the US, which was at the time quoted on the NYSE.