Boulogne-Billancourt (France), January 18 2017 - Vallourec announces today adaptations to its organization designed to enable the company to benefit fully from its Transformation Plan.

The new organization aims to strengthen the Group's customer focus in each of its regions, to optimize the use of its global resources, and to boost its development.

It will be structured around:

  • Four regions: North America, South America, Europe/Africa (EA), and the Middle East/Asia (MEA)
    These four regions, in charge of sales and industrial operations within their geographies, will be headed respectively by Nicolas de Coignac, Alexandre Lyra, Hubert Paris, and Edouard Guinotte.
  • Two new central departments:
    • The Development and Innovation Department (D&I)will design and implement the development strategy of the product lines. It will also be responsible for innovation and R&D. The department will be led by Didier Hornet, currently Senior Vice President Eastern Hemisphere.
    • The Technology and Industry Department (T&I)will design the Group's industrial strategy, aiming to continue to improve its cost base. It will also be responsible for technology, Group sourcing, and global planning. Philippe Carlier, currently Senior Vice President Europe, will lead this department.

The new organization will take effect on 3 April 2017.

From this date, the Executive Committee will be made up of 11 members: Philippe Crouzet, Chairman of the Management Board, Jean-Pierre Michel, Olivier Mallet, Chief Financial Officer, François Curie, Vice President Corporate Human Resources, and Stéphanie Fougou, Group General Counsel, as well as the four regional directors and two directors of central departments.
Jean-Pierre Michel will retire at the end of 2017, having contributed along the year as part of the Executive Committee to the effective implementation of the new organization. He will leave the Management Board on March 31 2017, which will subsequently comprise Philippe Crouzet and Olivier Mallet.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. Operating in more than 20 countries, its 20,000 dedicated and passionate people work hand-in-hand with their customers to offer more than just tubes: they deliver innovative, safe, competitive and smart tubular solutions, to make every project possible.

Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: SBF 120 and Next 150.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.​

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For further information, please contact:

​Investor Relations
Etienne Bertrand - etienne.bertrand@vallourec.com - +33 (0)1 49 09 35 58

​​​Press relations
Heloise Rothenbuhler - heloise.rothenbuhler@vallourec.com - +33 (0)1 41 03 77 50 / +33 (0)6 45 45 19 67

​​Individual shareholders
Toll Free Number (from France): 0 800 505 110 - actionnaires@vallourec.com​​


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After graduating from the Centrale Paris school of engineering, Philippe Carlierbegan his career at EADS in 1988 and moved to Vallourec as a management controller in 1995. He held various positions such as plant manager, subsidiary Chief Operating Officer, and industrial director, before being appointed Director of Upstream activity (steel mills and rolling mills) in 2012. He has been in charge of Upstream and Industry activities (tubular products for mechanical engineering, construction and the automotive industry) since 2014.

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Didier Hornetstudied at the ENSMA mechanical and aeronautical engineering school in Poitiers and the IAE business school in Paris, and later took an executive MBA at Harvard. He joined Vallourec as Marketing and Development Director in 1993, coming from Dassault Aviation, where he began his career. Later, he headed the North Sea Oil and Gas business based in Aberdeen, then became Director of the Oil and Gas division in North America, based in Houston. In 2009, he took over the Oil and Gas activity at Group level, and has been running the Group's OCTG (production and casing tubes, threading of oil and gas tubing) and Drilling Products (oil and gas drilling) activities since 2014. In 2015, he became Eastern Hemisphere Director.

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After graduating from Ecole des Mines in Paris, Edouard Guinottejoined Vallourec in 1995 as Logistics and Production Manager for Vallourec Composants Automobile Vitry. He has spent his whole career with the Group, undertaking various roles. Between 1998 and 2000, he was a Group Corporate Controller, then he transferred to VAM Mexico, to manage the Protectors Business Unit for 3 years. In 2004, he returned to the Automobile division as Director of Marketing before becoming Director of Strategy and Development for the Group's Oil and Gas Division in 2007. From 2011 to 2014, he ran Vallourec USA Corp. out of Houston, TX. and in 2014, he was appointed VP of Commerce and Development for the OCTG Division in Eastern Hemisphere Region.

Hubert Parisgraduated from Ecole Polytechnique Palaiseau and ENSTA ParisTech. He has a Master of Science from the University of California, Santa Barbara and an executive MBA from the CPA Paris. He began his career at SGN (COGEMA subsidiary) and joined Vallourec in 1998 as a management controller. He spent five years in Brazil, first as Controlling department director at Vallourec Tubos do Brasil, then as a director of the Automobile business unit of the Brazilian subsidiary. After returning to France, he worked as Marketing & Sales director, then Chief Operating Officer of the Automobile division. In 2007, he joined Salzgitter AG to support sales of Vallourec Précision Etirage, worked as CEO of the Salzgitter precision tubes business, and was a member of the management board of MRW, the German group tubes business holding. Back at Vallourec in 2013, he was named Group Quality Director. Since 2014, he has been responsible for the Valens competitiveness plan.

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Nicolas de Coignacbegan his career at Vallourec in 1992. He was plant manager, then management controller at corporate level. He later moved to the position of Purchasing Director then Director of Vallourec in Argentina. He also worked as Director of OCTG Europe before creating and running the Drilling Products division. Since 2014, he has been in charge of the Group's Powergen activities (tubular solutions for conventional and nuclear power plants) and Pipe Project (subsea flowlines, specialist tubes for umbilicals, process tubes and fittings for hydrocarbon processing plants). Nicolas studied at the Centrale Paris engineering school and also followed an executive program at INSEAD graduate business school.

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A graduate from the Instituto Militar de Engenharia (Rio, Brazil) and the Aachen University of Technology (Germany), Alexandre Lyrajoined Vallourec as a research engineer in 1991. He has spent all his career at Vallourec Tubos do Brasil (VBR), where he became Chief Operating Officer for Brazil in 2009.

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Stéphanie Fougouhas been Group General Counsel and member of the Group Management Committee since 2014. From 2011 to 2013, she was General Counsel of Club Méditerranée and also in charge of the legal, health & safety department, public affairs and real estate management contracts compliance. Before that she had worked during 13 years for the France-Télécom/ Orange group, lastly as Deputy Group Legal Counsel in charge of international matters and strategic partnerships. She started her career with the TF1 audiovisual group. Stéphanie Fougou, obtained her Bar Exam - 'Certificat d'Aptitude à la Profession d'Avocat' (CAPA) - in Paris in 2002. She also holds a degree in European competition law (DEA, Paris II, 1997) and in media law and management (DESS, Paris I, 1998).

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A lawyer by training, François Curiebegan his career in the Human Resources function of the Philips Group. He then joined the Alcan Group where he assumed various Human Resources responsibilities, at both corporate and country level, in France, Switzerland and Canada. Prior to joining Vallourec, he was Director of Human Resources, Environment, Health and Safety at Rio Tinto Alcan, the aluminum division of Rio Tinto, based in Montreal, Canada. He has been Director of Human Resources for the Vallourec Group since 2010.

Vallourec SA published this content on 18 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 January 2017 07:36:02 UTC.

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