Changes to the Soitec Board of Directors
Bernin (Grenoble), France - 27 March 2024 – At its meeting today, the Soitec Board of Directors took note of Eric Meurice's decision not to seek renewal of his mandate as Director at the next Annual General Meeting of shareholders on 23 July 2024. At that date, Eric Meurice will step down as a Director and as Chairman of the Board. He will take on the role of strategic advisory to the Chief Executive Officer for a period of one year.
All members of the Board expressed their gratitude to Eric Meurice for his unfailing commitment to Soitec over the past six years and for his major contribution to the work of the Board, which has enabled Soitec to create value for all its stakeholders. Eric Meurice will continue in office until 23 July 2024 and will ensure a smooth handover to his successor.
In accordance with the established succession plan, the Board of Directors took the following unanimous decisions, on the recommendation of the Compensation and Nominations Committee:
Christophe Gégout, currently independent Referent Director, Chairman of the Audit and Risk Committee and member of the Strategic and ESG Committees, will replace Eric Meurice as Chairman of the Board and Chairman of the Strategic Committee for a transitional period, effective from the close of the Annual General Meeting.
Christophe Gégout will be replaced as Referent Director by Delphine Segura-Vaylet, who serves as an independent Director, Chair of the Compensation and Nominations Committee and as a member of the Strategic Committee since 2022. Christophe Gégout will continue in his role as a member of the Audit and Risk Committee, the ESG Committee and the Strategic Committee.
A process has been initiated to recruit a new Director, in order to further strengthen the skills and expertise of the Board of Directors.
The Board of Directors has decided to propose to the Annual General Meeting the re-election of Françoise Chombar, Satoshi Onishi and Shuo Zhang as Directors for a three-year term. Shuo Zhang, independent director, member of the Audit and Risk Committee and member of the Strategic Committee, will take on the role of Chair of the Audit and Risk Committee in replacement of Christophe Gégout.
The Board of Directors will proceed with a confirmatory vote immediately following the Annual General Meeting of shareholders on 23 July 2024, ensuring that the Board will have all necessary powers to carry out its role of defining the Soitec Group's strategy and overseeing its implementation.
Eric Meurice, Chairman of the Board of Directors of Soitec: “Soitec is a global semiconductor industry leader, and I am proud to have been part of it for the past six years. I would like to express my full support and confidence in Christophe Gégout and Pierre Barnabé as they take Soitec into the next chapter. Soitec has many strengths, with an expanding portfolio of technologies and products that will enable it to continue its growth and strengthen its leadership. I look forward to continuing to support Soitec on strategic issues over the coming year.”
Pierre Barnabé, Chief Executive of Soitec: “I would like to offer Eric Meurice my warmest thanks for his decisive contribution to Soitec's development in recent years. Since 2018, his support has been critical in continuing the Group's growth. I am delighted that Christophe Gégout will become interim Chairman of Soitec and that I will be able to draw on his experience and vision.”
Christophe Gégout, Referent Director of Soitec: “I am delighted that the Board of Directors has unanimously decided to propose the re-election of Françoise Chombar, Satoshi Onishi and Shuo Zhang as Directors at the forthcoming Annual General Meeting. I am very proud to continue to contribute to Soitec’s development, and I would like to thank Eric Meurice for the close collaboration and many interactions we have had since he joined the Board. I look forward to continuing to work closely with Pierre Barnabé on Soitec's strategy.”