Egide: Reorganization of Egide SA completed - Arrival of a new CFO

Press Release

Bollène, December 03, 2019 – 06:00pm (CET)

Reorganization of Egide SA completed

Arrival of a new CFO

As part of the reorganization of Egide SA, announced at the end of September that it would transfer the graphite machining activity and administrative services (purchasing, accounting and marketing) to Bollène.

To support this restructuring, Jim Collins, Chairman and CEO of Egide Group, appointed as CFO on October 1, 2019. He succeeds to Philippe Lussiez.

Egide Group (Euronext Paris™- FR0000072373 - GID) today announced the completion of its restructuring plan for Egide SA. Launched in July 2019, this restructuring was accompanied by a major change in administrative and financial services. To lead these changes, Luc Ardon was appointed as Chief Financial Officer.

Reporting directly to Jim Collins, Luc Ardon is in charge of improving the Egide Group's financial management and strengthening performance management within its 3 Business Units. Since its arrival on October 1, 2019, the Trappes site has been closed (except the sales department), the financial and administrative services have been moved to Bollène and are now operational. The effective launch of the new ERP tool, which is under way for several years, is scheduled for March 1, 2020, in order to benefit from the productivity gains expected for Egide SA.

With more than 25 years of experience, Luc Ardon is experienced in leading transformation projects: CFO and member of the Quantel Group's management board since 2009, he accompanied the merger with Keopsys in 2016, which gave rise to Lumibird, a new entity for which he was CFO until 2018. Between 1996 and 2008, he held senior management and financial positions at Kodak Trophy, where he led the integration of Trophy into Kodak.

"We are very happy to welcome Luc to Egide Group. His solid experience in change management as CFO will be crucial in the Group's current consolidation phase, where we must resolve our difficulties and improve our profitability. I would like to thank Philippe Lussiez for his dedicated work for more than 27 years and for his strong involvement and contribution to Egide's history over the years. "said Jim Collins, President and CEO of Egide Group.

FINANCIAL AGENDA

2019 revenue: January 29, 2020 (after French market closure)

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To find out more about Egide:    

About Egide

Egide is a group with an international dimension, specialized in the manufacture of hermetic packages and heat dissipation solutions for sensitive electronic components. It operates in cutting edge markets with strong technology barriers to entry in all critical industry segments (Thermal Imaging, Optronics, High-Frequency, Power Units…). Egide is the only pure player in this market niche with manufacturing bases in France and the United States.

Egide’s eligibility for tax efficient French innovation-focused mutual funds (FCPI) was renewed on May 14, 2018.

Egide is listed on Euronext Paris™- Segment C - ISIN code: FR0000072373 – Reuters: EGID.PA – Bloomberg: GID

CONTACTS

EGIDE – Luc Ardon – CFO  -+33 4 90 30 35 94 – 

INBOUND CAPITAL – Investor Relations– Frédéric Portier - +44 7802 533333 – 

FIN’EX TENSO – Press Relations- Isabelle Aprile - 22 – 

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