Gemalto has announced that retirement of CEO Olivier Piou which will be effective by the end of August 2016.
The Board of Directors will be proposing that Current Chief Operating Officer for Gemalto Philippe Vallee will be proposed by the Board of directors at the annual general meeting of shareholders to become an Executive Director of the Board and the Company’s new CEO, effective 1st September 2016.
In addition, Piou will be proposed by the Board to continue to serve as a Non-Executive Director of the Company.
Alex Mandl, Chairman, Gemalto, said, “Piou has been a leader in transforming both Gemalto and the industry during his time as CEO. In 2006, we had one main product line and the business performance relied almost entirely on the sales of SIMs for mobile phones. Now Gemalto provides the broadest portfolio of technologies in the industry used by tens of thousands of businesses and governmental agencies worldwide and delivers two essential functions for modern digital services: authentication and data protection. As CEO, he has built a strong platform for continuous growth and consistently created value for shareholders, delivering superior results even in the sometimes very challenging external environment. On behalf of the Board, and the wider Gemalto team, deep thanks are due to Olivier for his passion, vision, superior execution and leadership.”
Mandl also adds that the Board is delighted to have someone of Philippe Vallee’s experience and leadership within Gemalto to appoint to the role of CEO. Philippe Vallee’s strong business acumen and superior management skills across a range of senior executive roles make him an excellent CEO candidate, highly qualified to take the company forward.
Olivier Piou, out-going CEO, said “We always take a long-term view about our business and manage change proactively. After such a large number of years at the helm, I believe that this autumn will be the right time to bring in a new leadership, which is ready and able to execute on our next phase of growth. September 2016 is the time when we accelerate the preparation of the Company’s next strategic plan. By transitioning management then, I want to give the new CEO the space to design what will come next for Gemalto.
Piou further added that he is tremendously proud of what the Gemalto team of employees, customers, investors and partners has achieved together. The out-going chief also stressed that Vallee is an excellent choice to lead Gemalto.
Philippe Vallee, COO, Gemalto said, “I am really honoured to be proposed. All together we have created a tremendous foundation for future growth. Authentication and data protection are truly essential to modern digital services and the products, platforms, software and services that Gemalto provides are fundamental elements of the 21st century way of life.”
