Vergnet SA: Significant change in the governance of VERGNET

Press release

IMPORTANT CHANGE IN THE GOVERNANCE OF VERGNET

• Separation of the functions of Chairman and Chief Executive Officer
• Appointment of a Chairman, Cyril Courtonne
• Appointment of a Managing Director
• Departure of Patrick Werner, former CEO
• Appointment of 6 new directors
• Implementation of a profitable and sustainable strategy
• Audit of current accounts

Elms, July 18, 2022 – Major governance changes have taken place at the head of VERGNET. The Board of Directors, largely renewed with the appointment of 6 directors during the General Meeting of June 29, took the decision to split the functions of Chairman and Chief Executive Officer to better meet the needs of the company in an impacted future. by rising inflation and the war in Ukraine. This development is in line with best governance practices. Patrick Werner, until now Chairman and Chief Executive Officer, leaves the group and is replaced by Cyril Courtonne, Non-Executive Chairman and Cyril Ledran, Chief Executive Officer.

An engineer by training and holder of a master’s degree in innovation management from Grenoble Ecole de Management, Cyril Courtonne now runs his own consulting firm specializing in the creation, development and restructuring of high-potential companies. He began his career in cross-functional technical/sales/marketing functions within industrial groups such as SAGEM before launching his first company in the digital field in 2009 and reselling it in 2018.

Appointed CEO on May 19, Cyril Ledran has recognized experience in turnaround companies. After sales and marketing responsibilities in highly structured international groups, he joined more entrepreneurial structures more than 20 years ago. He has solid experience in all trades related

• the general direction. His leadership, his ability to work in a team and his desire to mobilize his employees are strong assets to ensure the rebound of VERGNET.

In addition, the Ordinary General Meeting of June 29, 2022 voted unanimously to appoint 6 new directors: Marie Yeganeh, Cyril Courtonne, Matthieu Rosy, Daniel Wilfred, Michel Autrand and Christophe Le Blanc.

Development of the Vergnet Group

Drawing on their expertise, Cyril Courtonne and the members of the Board of Directors express their confidence

• Cyril Ledran to manage the group. They set themselves two missions:
• • The development of a profitable and sustainable strategy based on Vergnet’s DNA, in particular on its technological expertise in an environment favorable to renewable energies,
  • An audit of the accounts and more particularly of the budget for the current financial year drawn up by the former CEO. Even if positive elements exist, the announced favorable prospects must be validated.

Cyril Courtonne, President of Vergnet said:

• The evolution of Vergnet’s governance marks an important step in its transformation. I am very proud to have been appointed President. I will endeavor to ensure that the members of the Board, whose extensive experience is an asset, support Mr. Cyril Ledran in his work of managing the group. The separation of functions will allow him to focus on strategy, the pursuit of transformation and operations. Vergnet has a precious history and a future to write. »

Cyril Ledran, CEO of Vergnet said:

• I appreciate the privilege of being invested with this new mission. I set myself the objective of developing a viable and coherent strategy for Vergnet by relying on the skills of my employees who carry the soul of the group. This is part of the challenges of tomorrow and I intend to throw myself into this adventure in order to accompany Vergnet towards the renewal that the group deserves. »

About Vergnet SA

The Vergnet Group is the specialist in the production of renewable energies: wind, solar, hybrid. On the strength of unique technologies, the Group has developed the Hybrid Wizard, a hybrid system that controls in real time the share of renewable energies injected into the electricity grid, guaranteeing operational safety and security for island or isolated networks.

The Group has installed more than 900 wind turbines and 365 MW of all energies combined. It is present in more than 40 countries and has 200 employees in 12 locations.

Vergnet has been listed on Euronext Growth since June 12, 2007.

CONTACT

Vergnet Group

Cyril Ledran

General director

[email protected]