The board of Coface appointed Xavier Durand (52) as new general director starting February 9 replacing Jean-Marc Pillu. Durand will have to reinforce the commercial dynamics of Coface, propose and execute structural transformations necessary for the improvement of operational effectiveness while maintaining its risk profile in an uncertain global economic environment. Pillu oversaw the listing of approximately 60% of Coface's shares on the stock market.

Durand joins Coface after a 20-year career in GE Capital where he was CEO of GE Capital Asia Pacific in 2011-13 and later director of strategy and development, based in London.