Technicolor Creative Studios announced on Friday that it had decided to create a new strategic committee to support the implementation of its transformation plan.

This 'strategy & CSR' committee will be made up of four members, including Anne Bouverot, the Chairman of the Board of Directors, and Caroline Parot, the Group's Managing Director.

This reorganization will also be accompanied by the creation of an Audit and Risk Committee, as well as a Governance, Compensation and Talent Committee.

In a press release, TCS explains that this 'tightened' governance will enable it to focus on accelerating its transformation and delivering quality projects for its customers.

Yesterday, Moody's reaffirmed its 'Caa3' credit rating on the visual effects specialist, with an outlook that remains 'negative'.

The financial rating agency justifies its rating by the effects of the restructuring plan, which it believes will result in an increase in debt and 'depressed' Ebitda in 2023 and 2024, due to the costs involved in retaining teams and the investments made in the business.

On the Paris stock exchange, the share was timidly recovering by 1% on Friday morning, after six sessions of sharp falls. At this stage, the share price has fallen by 44% over the past week.

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