EGIDE S.A. Trappes, September 15, 2014 - 7:00am CET
NEW MANAGEMENT TEAM FOR GROWTH
The Board of Directors of Egide (ISIN: FR0000072373 - Euronext Paris Compartment C), a specialist in hermetic packages dedicated to the protection and interconnection of electronic and photonic chips, adopts new measures of corporate governance to effectively focus its development project
In June 2014, Egide group announced the success of its capital increase, enabling it to launch concrete development strategy "Engagement 2018".
This strategy for growth is based on the development of commercial resources of the group to enter new markets in France and abroad and the commissioning of a production line of ceramic components in Egide USA to more widely address the American military market.
This ambitious plan to transform the company translates into an investment of about € 5 million, mainly industrial (ceramic equipment line at Egide USA for around € 3.5 million, optimization of production facilities Egide SA) and the strengthening of sales teams. The goal is to double the turnover of the group in five years and a return to profitability in 2016.
James F. Collins is appointed CEO - Philippe Lussiez is appointed Deputy CEO
The board met on September 11, 2014 took note of the departure of Eric Michael, who is stepping down as director and CEO of the company for personal reasons. The Board has appointed a replacement, as of that date, Mr. James (Jim) F. Collins, currently CEO of Egide USA, who has also been invited to join the Board of Directors.
On the proposal of Mr. Collins, CEO, the Board of Directors appointed as Deputy CEO Philippe Lussiez who will continue as Chief Financial Officer of the group.
Philippe Brégi, Chairman of the Board of Directors of Egide said: "On behalf of the Board of Directors, I would like to thank Eric Michel who, as part of his duties as director and general manager, allowed our group to divest its non-core businesses in good conditions and to raise the funds necessary for the implementation of the "Egngagement 2018" plan, which will allow Egide to find the path to growth and profitability. "
He continues: "I am delighted to welcome Jim Collins as a new director and as the new CEO of Egide Group, and Philippe Lussiez as Deputy CEO. They provide both expertise, long experience of Egide products and their commitment to innovation. The Board and I look to them to implement our strategic plan as soon as possible and continue our development, especially internationally. "
James F. Collins concludes: « I thank the Board for their confidence and at the same time I realize the challenge that awaits me. It is with pride that I will perform it as I have always done».
Biography James F. Collins - www.linkedin.com/pub/james-collins/15/328/6aa/fr:
http://www.linkedin.com/pub/james-collins/15/328/6aa/fr
James F. Collins has a Bachelors of Science (ceramic engineering) from Rutgers University (United States). Upon graduation, he was employed as a Process Engineer at General Refractories Company in the Chicago, Illinois area, serving the steel industry. In 1983 he left this position to join Coors Ceramics Company in Golden, Colorado, where over 14 years, he held various engineering and management positions, primarily in the Electronic Ceramics industry. In 1996, he moved to the current operation, which was a division of Phillips Electronics and was sold to create Electronic Packaging Products. After occupying management positions with Electronic Packaging Products, he joined Egide USA as head of operations and was appointed Vice President
Biography Philippe Lussiez - www.linkedin.com/pub/philippe-lussiez/7/6b9/b59/:
http://www.linkedin.com/pub/philippe-lussiez/7/6b9/b59/
Philippe Lussiez holds a diploma of Higher Accountants. He began his career with the Egide Group in 1992 as head of accounting for Bollène, and was appointed group financial controller and head of investor relations since the company IPO in 1999. He holds the position of Chief Financial Officer.
Financial calendar
- SFAF Meeting for half year results on September 29, 2014 @ 8:30am at Pavillon Kléber (7 rue Cimarosa, 75116 Paris)
- MidCap Event on October 2 & 3, 2014 at Palais Brongniart (Place de la Bourse, 75002 Paris) - www.midcapevents.com:
http://www.midcapevents.com
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 cutting edge markets with strong technology barriers to entry in all critical industry segments (Space, Defense, Security, Aeronautics, Telecommunications, Energy, Medical.). Egide is the only pure player in this market niche with manufacturing bases in France and the United States.
Egide shares are eligible for the French tax incentivized PEA-PME and FCPI investment vehicles.
Euronext Paris - Segment C - ISIN: FR0000072373 - Reuters: EGID.PA - Bloomberg: GID
For more information www.egide.fr:
http://www.egide.fr
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:
mailto:plussiez@egide.fr
FIN'EXTENSO - Press - Isabelle Aprile - +33 1 39 97 61 22 - i.aprile@finextenso.fr:
mailto:i.aprile@finextenso.fr
http://hugin.info/143399/R/1856066/649465.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EGIDE via Globenewswire
