Valeo : Governance evolution – appointment of Christophe Périllat as Valeo Chief Executive Officer

At its meeting held today, the Board of Directors of Valeo decided to appoint Christophe Périllat as Chief Executive Officer of Valeo, in accordance with the succession plan announced on October 27, 2020. Jacques Aschenbroich will continue to act as Chairman of the Board of Directors until the end of his current term of office as a Director.

The Board of Directors thanked Jacques Aschenbroich warmly, expressing its profound gratitude for his exceptional record during his 13 years at the head of Valeo Group, during which Valeo doubled in size and its market capitalization increased more than sevenfold. Under the direction of Jacques Aschenbroich, Valeo has positioned itself amongst the world leaders in the most promising segments of the automotive industry such as driving assistance systems and electrification, establishing Valeo at the heart of the two great revolutions in mobility now underway. The Board of Directors is delighted to be able to count on Jacques Aschenbroich's continued service as Chairman during this managerial transition.

The Board of Directors welcomes the appointment of Christophe Périllat as Chief Executive Officer and offers him its full confidence and support in his new role. The Board will be able to rely on his great expertise in the automotive sector and intimate knowledge of Valeo acquired over his 20-year career with the Group. The Board of Directors is proud of the strong positioning reached by the Group under the leadership of Jacques Aschenbroich and is convinced that Christophe Périllat will be able to seize all new opportunities to continue such transformation.

At the end of the Board of Directors' meeting on January 26, 2022, Jacques Aschenbroich declared:

"This governance evolution is the culmination of a gradual succession plan announced in October 2020, which has been moving forward under excellent conditions. I am delighted with the decision to appoint Christophe Périllat as Chief Executive Officer. I am convinced that with the quality of his career with the Group for over 20 years and his in-depth knowledge of the automotive sector, he will be able to guide Valeo through the ongoing automotive revolution and define the strategic orientations that are necessary to strengthen its leadership and seize all opportunities in the years to come. Along with our 110,300 employees, I will continue to support him in my capacity as Chairman of the Board of Directors."

For his part, Christophe Périllat declared:

"I would like to thank Jacques Aschenbroich and the Board of Directors for their vote of confidence in appointing me as Chief Executive Officer. I am extremely enthusiastic about taking up this role and I know I can count on all our employees, who are ready to face any challenge. I am fully aware of my responsibility to all our stakeholders, customers, employees, business partners and shareholders, and I want to assure them of my strong will to continue developing the Group and strengthening even more its position at the forefront of the most dynamic segments of the automotive industry, everywhere in the world."

Christophe Périllat - Background

Having joined the Valeo Group in 2000, Christophe Périllat held several management positions, in a number of Group companies gradually increasing in size, until he became Chief Operating Officer in 2011, Associate Chief Executive Officer (Directeur Général Adjoint) in October 2020, Deputy Chief Executive Officer (Directeur Général Délégué) in May 2021, and Chief Executive Officer on January 26, 2022. Christophe Périllat has also had a seat on the Board of Directors of Valeo since May 2021. Previously, Christophe Périllat worked in the aeronautics industry with the equipment manufacturer Labinal, in supply chain, plant, project and subsidiary management positions in France and in the United States. He is a Director of ALD. Christophe Périllat graduated from École Polytechnique and École des Mines de Paris. He holds an Executive MBA from HEC.