Rexel SA (RXEEF.PK), A French distributor of electrical parts and supplies, Friday announced the appointment of Patrick Berard as Chief Executive Officer, effective July 1.
François Henrot, currently Deputy-Chairman and Senior Independent Director, was appointed as Chairman of the Board of Directors on an interim basis effective July 1.
Berard and Henrot replace Rudy Provoost, who is stepping down as Chairman and Chief Executive Officer as of June 30.
Further, the company said Ian Meakins would join the Board on July 1 as an independent director in replacement of Provoost and become Non-Executive Chairman of the Board on October 1.
The company said the change in management follows its decision at its meeting on June 23 to adopt a new governance structure and split the duties of Chairman and Chief Executive Officer.
In a statement, the company said, "As a result of a divergence of views with the Board of Directors about the change in governance and Rudy Provoost's approach to implementing the Group's strategy, he was invited to relinquish his positions of Chairman of the Board and Chief Executive Officer on June 30."
Meakins announced earlier this year his intention of retiring from his current position of CEO of Wolseley plc on August 31.
On October 1, he will become Non-Executive Chairman of Rexel's Board of Directors and Henrot, who is also Chairman of the Nomination and Compensation Committee, will resume his previous position of Deputy-Chairman and Senior Independent Director.
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