Rexel's Board of Directors, acting on the recommendation of its Nomination Committee, unanimously agreed to co-opt Maria Richter and Isabel Marey-Semper as independent members of the Board of Directors during its meeting on May 22, 2014.
Maria Richter and Isabel Marey-Semper replace Roberto Quarta and Viviane Akriche respectively, following their resignations from the Board. Roberto Quarta and Viviane Akriche represented Ray Investment, which has reduced its shareholding significantly over the past few months, considerably increasing Rexel's free-float.
These changes follow the decision to move to a new governance structure, which received the approval of shareholders at Rexel's Annual General Meeting held on May 22. Shareholders approved the move from a dual board structure with a Supervisory Board ("Conseil de Surveillance") and Management Board ("Directoire") to a one-tier structure with a Board of Directors ("Conseil d'Administration"). This change reflects the evolution of Rexel's shareholding structure.
Rudy Provoost, Rexel's Chairman and CEO, said: "Rexel would like to thank Roberto Quarta and Viviane Akriche for their support over the years to the Group's development. We are delighted to welcome Maria Richter and Isabel Marey-Semper to Rexel's Board of Directors. The newly formed Board is predominantly composed of independent members with international backgrounds and a diverse range of skills and experience. The Board's female representation has also been significantly strengthened."
Rexel's Board of Directors is now composed of ten members:
- Rudy Provoost, Chairman and CEO
- François Henrot, Vice Chairman and Chairman of the Nomination Committee
- Patrick Sayer, Chairman of the Compensation Committee
- Pier-Luigi Sigismondi, Chairman of the Strategic Committee
- Fritz Froehlich, Chairman of the Audit Committee
- Hendrika Verhagen
- Monika Ribar
- Thomas Farrell
- Maria Richter
- Isabel Marey-Semper
Rexel is the world's leading professional distributor of electrical equipment. Present in 19 countries, the Group offers electrical products and solutions to professionals for buildings and for residential, industrial, and tertiary infrastructures, through a multi-brand network of 1,972 outlets. The products and solutions marketed by the group are in response to demands for electrical equipment, lighting, security, climate control, communication, industrial automation, and energy savings. The activity is organized around 3 markets:
- tertiary: malls, sports facilities, hospitals, airports, etc.;
- industry: system integrators, production site builders and equipment producers;
- residential: comfort, security, and home automation.
Net sales are distributed geographically as follows: Europe (50.2%), North America (43%) and Asia/Pacific (6.8%).
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