Vallourec board proposes renewal of CEO Philippe Guillemot's term

Vallourec's Board of Directors unanimously decided to propose the renewal of Philippe Guillemot's term as Chairman and Chief Executive Officer, according to a company statement.

The board made the decision on the recommendation of the Nomination and Governance Committee. Guillemot's current term expires at the end of the General Meeting to be held in 2026.

The proposed renewal would extend his term for four years, subject to shareholder approval at the upcoming meeting.

Angela Minas, Lead Independent Director of the Board of Directors, said the "New Vallourec plan" initiated by Guillemot has been instrumental in the company's turnaround over three years. She noted that Vallourec is now debt-free and financially sound, delivering growth across all markets.

Guillemot commented that Vallourec has been transformed with ambitions to meet new energy market challenges. He said the company will maintain its Value-over-Volume strategy and premium positioning while setting goals for industrial excellence, business development, and value creation through 2030.

Vallourec is a tubular solutions provider for energy markets and industrial applications including oil and gas wells, power plants, and mechanical equipment. The company employs approximately 14,000 people in more than 20 countries.

Vallourec trades on Euronext Paris (EURONEXT: VK) and is included in the CAC Mid 60, SBF 120 and Next 150 indices. The company also maintains a Level 1 American Depositary Receipt program in the United States (OTCMKTS: VLOWY) with a 5:1 parity ratio to ordinary shares.

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