EGIDE GROUP
Changes in corporate governance and management team
By decision of the Board of Directors chaired by Philippe Brégi, Egide Group has made changes to its corporate governance and management team.
Today the Board separated the functions of Chairman and Chief Executive Officer previously jointly exercised by Philippe Brégi who will henceforth serve exclusively as the Group's Chairman. Eric Michel, a Board of Directors member since January 30, 2013, has been appointed Chief Executive Officer. This new corporate governance model will enter into effect on April 2 of this year.
So, with a strengthened management team formed by the Chairman and the CEO, the Egide Group opens 2014 with momentum in the wake of 2013 with a strategy refocused on its centers of excellence in France and the United States.
Philippe Brégi, who has actively contributed to the company over the last 10 years, will pursue the ambitious development policy he implemented. The reorganization (disposals of Egima and Egide UK) initiated in 2013 has allowed Egide Group to refocus on its core business as a supplier of hermetic packages for high-end applications in glass-to-metal, ceramics-to-metal and full-ceramics by leveraging the combined strengths of Egide SA and Egide USA. As Chairman of Egide Group, Philippe Brégi will continue to provide the management team with the full benefit of his experience and knowledge of the industry, know-how and technologies used by Egide as well as his in-depth understanding of the Group's markets and customers. He will also oversee the implementation of the strategy approved by the Board of Directors.
Philippe Brégi specified: "This change in the governance is destined to prepare the way for the next stage of our development. It is time for Egide to move forward to a new growth phase and the adoption of new principles of corporate governance will facilitate this transformation. Eric Michel, who joined us more than a year ago, possesses now all skills required to successfully fulfill this new mission at my side".
Eric Michel commented: "Having served on the Board of Egide since early 2013, I am very pleased to take on the responsibilities of Chief Executive Officer starting 2 April 2014. In light of the measures undertaken over several months (disposal of Egima and Egide UK), positive trends for Group markets since the start of 2014, team spirit and loyalty of all employees and the experience of its Chairman Philippe Brégi, I am particularly confident in the Group's future, its capacity for redeployment and prospects for generating profitable growth over the medium-term. "
About Egide
Egide SA is a European group with an international dimension, specialized in the manufacture of hermetic packages for sensitive electronic components. The Group operates in a broad range of high-tech sectors that include the Aerospace, Defense, Security, Aeronautics, Telecommunications and Medical Segments. Egide is the only pure player in this market niche with manufacturing bases in France and the United States.
To find out more about Egide: www.egide.fr
Egide is listed on NYSE Euronext Paris(TM)- Segment C - ISIN: FR0000072373 - Reuters : EGID.PA - Bloomberg: GID
Egide renewed its OSEO label as an innovative company (entreprise innovante) on June 11, 2012
ISO 9001:2008 and ISO 14001:2004 certified quality and environmental management systems
Contacts
Egide - Finance Department - Philippe Lussiez - +33 1 30 68 81 00 - plussiez@egide.fr
Fin'extenso - Relations Presse - Isabelle Aprile - +33 1 39 97 61 22 - i.aprile@finextenso.fr
