Vallourec - comment

Vallourec has completed its selection process and has appointed Philippe Guillemot as Chairman and CEO. Mr Guillemot was formerly CEO of Elior Group from 2017 to 2022, the French based contract catering and support services business. Previously, Mr Guinotte was the COO of Alcatel-Lucent and has held several other senior positions. The change in management was well flagged and is not a surprise. Mr Guillemot is replacing Edouard Guinotte who guided Vallourec through the restructuring.