Technicolor Renews and Reinforces its Board of Directors
Denis Ranque is named non-executive Chairman of Technicolor
Catherine Guillouard, Lloyd Carney, Bruce Hack and John Roche are named to the Board
Paris - Technicolor (Euronext 18453 ; NYSE : TCH) today announced changes to its governance structure and membership on its Board of Directors.
As announced at the 27 January 2010 general shareholders meeting, the Board of Directors accepted at its meeting today Frederic Rose’s proposal to separate the roles of Chairman of the Board and of Chief Executive Officer. Denis Ranque, former Chairman and Chief Executive Officer of Thalès, becomes non executive Chairman of the Board of Directors of Technicolor. Frédéric Rose remains Chief Executive Officer.
The new Directors named to the Board are Catherine Guillouard, Financial Director of Eutelsat, Bruce Hack, former CEO of Vivendi Games and Vice Chairman of the Board of Activision Blizzard and John Roche, Administrator of ADEO. They join Technicolor Board members Frédéric Rose, Loïc Desmouceaux, Didier Lombard and Rémy Sautter, who becomes Lead Independant Director. The new Board members succeed Eric Bourdais de Charbonnière, François de Carbonnel, Pierre Lescure and Paul Murray, who served through the completion of the debt restructuring process.
Marcel Roulet leaves his role as ‘censeur’ to the Board. He is succeeded by Lloyd Carney, CEO of Xsigo Systems, who will be nominated to serve on the Board at the next general shareholders meeting.
The shareholders’ meeting, to be held during the second quarter of 2010, will be asked to ratify the nominations of the new Board members.
The Board of Directors now counts eight members and a censeur. The three Board committees are:
- Audit Committee
- Remuneration, Nominations and Governance Committee
- Technology Committee
This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration.
Technicolor is a company listed on NYSE Euronext Paris and NYSE stock exchanges, and this press release contains certain statements that constitute “forward-looking statements” within the meaning of the “safe harbor” of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties, assumptions and other factors beyond Technicolor’s control that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements due to changes in global economic and business conditions, risks related to its debt restructuring, and risks related to its operations in general. For a more complete list and description of such risks and uncertainties, refer to Technicolor’s Form 20-F (formerly Thomson) and other filings with the U.S. Securities and Exchange Commission and Technicolor’s Rapport Annuel and other filings with the French Autorité des marchés financiers.
With more than 95 years of experience in entertainment innovation, Technicolor serves an international base of entertainment, software, and gaming customers. The company is a leading provider of production, postproduction, and distribution services to content creators and distributors. Technicolor is one of the world’s largest film processors; the largest independent manufacturer and distributor of DVDs (including Blu-ray Disc); and a leading global supplier of set-top boxes and gateways. The company also operates an Intellectual Property and Licensing business unit. For more information: www.technicolor.com
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