Arkema has announced appointments to its board of directors and changes in corporate governance. Arkema, a leader in specialty materials, designs materials to address the ever-growing demand for innovative and sustainable materials, driven by the challenges of new energies, new technologies, and depletion of resources, mobility, and increasing urbanisation.
The company has appointed Thierry Pilenko as an independent director for a four-year term. The appointment will enable the board of directors to benefit from his experience as chairman and chief executive officer of listed companies, as a top-level energy industry executive in a highly international environment (Europe, Africa, the Middle East, Asia and North America), as well as from his extensive experience in technologies and new materials, as well as talent management. Pilenko has been named as a member of the nominating, compensation and corporate governance committee, where he will replace Thierry Morin as its chairman. Pilenko is a graduate of the École Nationale Supérieure de Géologie in Nancy, France, and of the Institut Français du Pétrole (IFPEN). He is a management consultant and holds several directorships in international energy companies, according to Arkema.Arkema has announced appointments to its board of directors and changes in corporate governance. Arkema, a leader in specialty materials, designs materials to address the ever-growing demand for innovative and sustainable materials, driven by the challenges of new energies, new technologies, and depletion of resources, mobility, and increasing urbanisation.#
Arkema has named Bpifrance as an independent director for a four-year term. The appointment of Bpifrance, representing the Lac 1 fund, which acquired a stake in Arkema in 2020, will enable the board of directors to benefit from its in-depth knowledge of Arkema’s key markets, technological and environmental transition, as well as expertise in the governance of listed companies. In accordance with the AFEP-MEDEF code, the board considered that the percentage of Arkema’s capital owned by Lac 1, which is less than 10 per cent, did not disqualify Bpifrance from acting as an independent director. Bpifrance is named a member of the newly created innovation and sustainable growth committee, according to a media statement by Arkema.
The Lac1 fund has an investment capacity of €4.2 billion after its first round of funding alongside Bpifrance, involving around thirty subscribers, amongst which French and international institutional investors, large corporations and family offices. Lac1 is managed by Bpifrance Investissement, and draws on Bpifrance’s position within its ecosystem, its knowledge of technological and environmental transitions, as well as its expertise in the governance of listed companies. Bpifrance Investissement is Bpifrance’s equity financing arm.
The company has appointed Ilse Henne as an independent director for a four-year term. His appointment will enable the board of directors to benefit from her international management experience in metals trading, storage and processing, which has enabled her to develop expertise in strategic evolution, operational performance improvement and supply chain excellence, as well as in-depth knowledge of some key sectors for Arkema, particularly the automotive industry. Subject to her appointment by the annual general meeting, the board of directors has decided to appoint Ilse Henne as a member of the audit and accounts committee. Henne holds several advanced business management degrees from the Universities of Ghent and Leuven, Belgium, as well as a master’s degree in linguistics and literature, also from the University of Ghent, Arkema said.
At the same meeting, the board of directors also decided to create a new committee, the innovation and sustainable growth committee tasked with assessing the contribution of Arkema’s innovation and strategy to environmental challenges and sustainable growth. Together with the audit and accounts committee and the nominating, compensation and corporate governance committee, this new committee will help perform a comprehensive review of the group’s ESG and non-financial challenges. The board has decided to appoint Victoire de Margerie to chair this committee after the annual general meeting of May 20, 2021.
Fibre2Fashion News Desk (GK)
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