(CercleFinance.com) – Soitec issued a press release on Friday to ensure that the appointment of its next managing director was the result of a “rigorous” decision-making process.
The specialist in the production of semiconductor materials points out that the succession plan unveiled on Wednesday evening was based on a “detailed assessment” of the group’s needs for the next phase of its development.
“The process, which began in March 2021, was carried out respecting the best standards of governance and with the full support of the main shareholders of Soitec”, he specifies.
This development comes as analysts are concerned about a situation that may resemble an open governance crisis within the silicon-on-insulator (SOI) specialist.
The action fell by more than 18% yesterday following the appointment of Pierre Barnabé, the current head of the ‘big data’ and cybersecurity branch of Atos, as the next managing director.
It was above all the reaction of the executive committee to this appointment that caused the title to plunge.
In a letter, the executive committee was surprised at the choice of the new boss, while denouncing the stranglehold exercised by the chairman of the group’s board of directors, Eric Meurice.
According to analysts, the letter evokes a decision taken in haste and in total opacity, without involving the current director general in the recruitment process and without considering internal candidates.
In the press release it published in the morning, Soitec believes that Pierre Barnabé, called to succeed current CEO Paul Boudre, has all the qualities and experience required to lead Soitec.
Eric Meurice specifies, for his part, that he intends to do what is necessary to ensure that governance issues are dealt with in such a way as to ensure the transition of leadership.
Eric Meurice and Paul Boudre have also committed to working together to ensure a smooth transition and the proper execution of Soitec’s 2026 strategic plan.
Following these declarations, the Soitec title began a slight rebound on Friday morning on the Paris Stock Exchange, signing an increase of 0.9%.
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