Co-optation to Valeo Board of Directors

As announced today, and in accordance with the commitments made on March 30, 2022, in the context of his appointment as Chairman of the Board of Directors of Orange, Jacques Aschenbroich will end his terms of office as Chairman of the Board of Directors and director of Valeo on December 31, 2022. He will be replaced as Chairman of the Board by Gilles Michel as of January 1, 2023.

At its meeting held today, Valeo’s Board of Directors unanimously decided, on the recommendation of the Governance, Appointments and Corporate Social Responsibility Committee, to co-opt Stéphanie Frachet, currently permanent representative of Bpifrance Participations on Valeo’s Board of Directors, as an independent director, effective as of January 1, 2023, in order to replace Jacques Aschenbroich, for his remaining term of office, i.e. until the end of the Annual Shareholders’ Meeting convened to approve the financial statements for the financial year ending December 31, 2022. Stéphanie Frachet will be replaced in her capacity as Bpifrance Participations’ permanent representative by Alexandre Ossola. The Directors are pleased to welcome Alexandre Ossola on the Board of Directors of Valeo.

Stéphanie Frachet’s co-optation will be submitted for ratification at Valeo’s next Ordinary Shareholders’ Meeting.

Following the changes described above, Valeo’s Board of Directors will be composed of 14 directors, of whom 92% will be independent and 42% will be women (excluding directors representing employees).

Stéphanie Frachet – Background

Stéphanie Frachet is a French national and a Partner of the Flex Equity Mid Market Fund at CAPZA, a European private investment platform. She has more than twenty years of experience in finance and private equity.

From 2001 to 2007, she was in charge of audit and transaction services at, respectively, Ernst & Young and PricewaterhouseCoopers, working on M&A and LBO transactions. In 2007, Stéphanie Frachet joined the Leverage Finance team of Société Générale, in charge of financing of LBO transactions for SMEs and large groups. Stéphanie Frachet then joined Bpifrance (formerly Fonds Stratégique d’Investissement) in 2009 where she was Director of Bpifrance Investissement and member of the Management Committee of Bpifrance Capital Développement between 2017 and 2022.

Previously, she was a permanent representative of Bpifrance Participations notably as a director of Eutelsat Communications and Sulo (formerly Plastic Omnium Environnement). She was also a director of Constellium (a company listed on the New York Stock Exchange) and Eurosic and also a member of the Supervisory Board of Sabena Technics Participations, as well as Board observer of Horizon Parent Holdings (Verallia), Paprec and Diot-Siaci.

Stéphanie Frachet graduated from ESSEC.

Alexandre Ossola – Background

Alexandre Ossola, is a French national and Head of Mid Cap Funds and Avenir Automobile Funds (FAA) at Bpifrance and a member of the Management Committee of Bpifrance Capital Développement. He has over twenty years of experience in private equity and M&A.

He began his career in 1998 as an M&A analyst at Wasserstein Perella, and then at Credit Suisse First Boston. From 2000 to 2011, he was a Director in the Paris office of CVC Capital Partners, and then head of venture capital transactions at CDC Climat between 2011 and 2013. He joined Bpifrance Investissement in 2013 as Director of Nuclear and Rail Funds. In 2015, he joined Bpifrance’s Mid & Large Cap Management Committee as Head of the FAA funds. In 2017, he also took over the management of Mid Cap operations within Bpifrance Capital Développement in which he is a member of the Management Committee.

Alexandre Ossola is member or permanent representative of Bpifrance Participations on the Boards of unlisted companies Novares, Trèves, ADIT, Carizona and Ipesup. Previously, he was also appointed, on the recommendation of Bpifrance, as Board observer on the Supervisory Board of Peugeot S.A. (2017-2021) and permanent representative of Bpifrance Participations as a member of the Supervisory Board of Vallourec (2016-2021).

Alexandre Ossola graduated from ESCP.