Valeo Sets Up Executive Committee, Appoints New Management Committee Members

5 June 2000

Valeo Sets Up Executive Committee, Appoints New Management Committee Members

    PARIS--June 5, 2000--Valeo today announced the following organizational changes and appointments within the Group:

1) A three-member Executive Committee has been set up. The members are Chairman & CEO Andre Navarri, Chief Operating Officer Luc Bleriot and Chief Financial Officer Thierry Morin.

Luc Bleriot, COO

    Luc Bleriot has been appointed Chief Operating Officer. In particular, he is in charge of industrial, quality and purchasing, and leads Branch operations. He joined Valeo in 1993 as General Manager of the Climate Control France Division. In 1997, he was appointed Vice-President of the Climate Control Branch. He began his career at ITT/LMT and held management positions with the Matra and Thomson Groups. Luc Bleriot, 49, graduated as an engineer from INSA in Lyon and has a degree from IAE in Paris.

Thierry Morin, CFO

    Thierry Morin has been appointed Chief Financial Officer. In particular, he is in charge of financial affairs, strategic operations and information systems. He joined the Valeo Group in 1989 as Finance Director of the Clutches Branch. After holding several positions in the Group Finance Department, he was appointed Senior Vice-President in 1997. He began his career at Burroughs, followed by Schlumberger and then Thomson. Thierry Morin, 48, has a master's degree in management from Paris IX-Dauphine University.

2) Two new members have been appointed to the Management Committee:

Andre Gold, Vice-President, Climate Control Branch

    Andre Gold has been appointed Vice-President of the Climate Control Branch. He joined Valeo in 1998 as General Manager of the Climate Control North America Division. He was previously President of Bendix's Atlantic Inflator Division, and prior to that spent a number of years with TRW. Andre Gold, 46, has a Bachelor of Science degree from Technological University in Massachusetts.

Christine Benard, Vice-President, Purchasing

    Christine Benard has become a member of the Group's Management Committee. She joined Valeo in 1996 as project manager in the Group Purchasing Department. She was then appointed Purchasing Director of the Security Systems Branch before becoming Group Purchasing Director in February 1999. She began her career at the Mercer consultancy in 1989. Christine Benard, 33, is a graduate of the HEC business school.

    Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks, and ranks among the world's top automotive suppliers. The Group achieved sales of 7.7 billion euros in 1999. It has 118 plants, 39 R&D centers, 10 distribution centers and employs 51,700 people in 20 countries worldwide.
    For more information on the Group and its businesses, please consult our Web site: www.valeo.com