Valeo Appoints Philippe Gire Vice-President of Strategy and E-business

6 September 2000

Valeo Appoints Philippe Gire Vice-President of Strategy and E-business

    PARIS--Sept. 6, 2000--Valeo (Paris: FR; OTC: VLEEY) today announced the appointment of Philippe Gire as Vice-President, Strategy and E-Business. He is also a member of the Management Committee. He joined the Group on September 1, 2000, after a number of years with Andersen Consulting.
    Philippe Gire, 44, is a graduate of the Ecole Polytechnique (1979). He joined Andersen Consulting in 1980 and was named partner in 1989.
    At Andersen Consulting, he dedicated most of his career to the electronics and high technology businesses.
    More recently, he was in charge of all outsourcing activities and new business models worldwide.
    Philippe Gire will also be President of the Valeo Innovative Entrepreneur Fund, established to invest in high technology businesses and activities related to the development of the Internet in the automotive sector.
    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 in 1999 of 7.7 billion euro. It has 115 plants, 39 R&D centers, 10 distribution centers and employs 55,000 people in 22 countries worldwide.
    For more information on the Group and its businesses, please consult our Web site: www.valeo.com