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Valeo co-opts Fonds Stratégique de Participations

By Simon Warburton | 26 March 2020

Valeo's board has co-opted Fonds Stratégique de Participations as a director.

The Fonds Stratégique de Participations will replace Georges Pauget, who resigned on 24 March, for the remaining term of his office, until the end of the General Meeting convened to approve the financial statements for year ending 31 December, 2019.

The co-option of the Fonds Stratégique de Participations reflects the increased stake it holds in Valeo's share capital. The Fonds Stratégique de Participations will be represented on Valeo's Board of Directors by Julie Avrane-Chopard, senior partner at McKinsey & Company.

The co-option of the Fonds Stratégique de Participations as director will be submitted for ratification at Valeo's next General Meeting.

"I would first like to personally thank Georges Pauget for his support and invaluable advice since I joined Valeo as Chief Executive Officer," said Jacques Aschenbroich.

"We are also delighted to welcome the Fonds Stratégique de Participations as a member of our Board of Directors. This co-option will allow us to benefit from the expertise of Julie Avrane-Chopard, permanent representative and will enable the FSP to accompany us on a long term basis in our development."