Succession at Valeo: Christophe Périllat becomes CEO

Christophe Périllat becomes the new Chief Executive Officer of Valeo. His predecessor Jacques Aschenbroich will continue to serve as Chairman of the Board of Directors until the end of his term. The Board of Directors expressed its heartfelt gratitude to Jacques Aschenbroich and extended its deep appreciation for his 13 years at the helm of the Valeo Group.

Aschenbroich Ensured 13 Years of Successful Development

During this time, the size of Valeo doubled and its market capitalization increased more than sevenfold. Under Aschenbroich's leadership, Valeo positioned itself as one of the world's market leaders in the most promising segments of the automotive industry, such as driver assistance systems and electrification. The Board of Directors is pleased that Jacques Aschenbroich will continue to be available as Chairman of this body during the leadership transition. The Board of Directors welcomes the appointment of Christophe Périllat as Chief Executive Officer and expresses its full confidence and support for his new role, relying on his vast expertise in the automotive sector and his profound knowledge of Valeo, which he has acquired during his 20-year career with the group. Christophe Périllat is expected to further drive the transformation of Valeo. At the conclusion of the Board of Directors meeting on January 26, 2022, Jacques Aschenbroich stated:

"This development in company leadership is the culmination of a gradual succession plan announced in October 2020 and has evolved under excellent conditions. I am pleased with the decision to appoint Christophe Périllat as Chief Executive Officer. I am convinced that with his more than 20-year career in the group and his profound knowledge of the automotive sector, he will be able to guide Valeo through the revolutionary changes in the automotive industry. He will define the necessary strategic directions to strengthen the company's leading position and seize all opportunities in the coming years. Together with our 110,300 employees, I will continue to support him in my role as Chairman of the Board of Directors."

Christophe Périllat added:

"I would like to thank Jacques Aschenbroich and the Board of Directors for the trust they have placed in me by appointing me as Chief Executive Officer. I take on this role with great enthusiasm and I know I can count on all our employees who are ready to face any challenge. I am aware of my responsibility towards all our stakeholders, customers, employees, business partners, and shareholders. I want to assure them that I am firmly determined to continue developing the group and to represent its position at the forefront of the most dynamic segments of the automotive industry worldwide."

 Since joining the Valeo Group in 2000, Périllat has held several leadership positions in various companies within the group.

What does that mean?

At Valeo, the CEO transition is happening in a calm, meticulously planned manner – Périllat may be the right man at the right time, possessing both profound company and industry knowledge and a keen eye for changes. Accordingly, he is likely to further advance Valeo’s transformation and expansion into entirely new areas.