Boulogne-Billancourt, 5 April 2012 – At its meeting on 28 March 2012, the Vallourec Supervisory Board, chaired by Mr Jean-Paul Parayre, decided to submit to the vote of the Annual General Meeting of Vallourec shareholders the appointments of Mr Olivier Bazil and Mr José Carlos Grubisich as members of the Supervisory Board for a term of four years ending after the Ordinary General Meeting of Shareholders called to approve the accounts of the financial year ending 31 December 2015.
Mr Olivier Bazil and Mr José Carlos Grubisich are both independent within the meaning of the AFEP-MEDEF Corporate Governance Code.
At the same meeting, the Supervisory Board recommended renewing the mandates of two current Supervisory Board members. The terms of office of Mr Jean-François Cirelli and Mr Edward G. Krubasik will shortly be ending and the Board recommends renewing their term for a further period of four years, ending after the Ordinary General Meeting of Shareholders called to approve the accounts of the financial year ending 31 December 2015. In accordance with statutory provisions, the mandate of Mr Jean-Claude Verdière which is also coming to an end will not be renewed.
Mr Olivier Bazil is a French citizen, born on 22 September 1946, a graduate of the École des Hautes Études Commerciales (HEC) and the Harvard Business School. He joined the Legrand Group in 1973 as deputy to the Corporate Secretary in charge of financial information and of developing the Group's growth strategy. He became Chief Financial Officer of Legrand France in 1979, Deputy Chief Executive Officer in 1994, and was Vice-Chairman of the Board of Directors and Chief Operating Officer from 2000 to 2011. He is currently a non-executive director for Legrand, Firmenich International and Château Palmer.
José Carlos Grubisich
Mr José Carlos Grubisich is a Brazilian citizen, born on 19 February 1957. A chemical engineer and a graduate of the Fundaçao Dom Cabral's Advanced Management Program and INSEAD, he began his career at Rhône-Poulenc, then at the Rhodia Group, where he occupied a number of executive positions, including Chief Executive Officer of Rhône-Poulenc in Brazil, Vice President and member of the Rhodia Group Worldwide Executive Committee. In 2002, he was appointed Chief Executive Officer of the Braskem S.A. company of Brazil, which under his leadership spearheaded the consolidation process in the Brazilian petrochemicals sector. From 2008 to 2012, he was Chief Executive Officer of ETH Bioenergia, an Odebrecht Group company specialising in the integrated production of ethanol and electricity from biomass. Since February 2012, he has been Chairman of Eldorado Brasil Papel e Celulose, a paper-pulp specialist subsidiary of the J&F (JBS-Friboi) Group. Mr José Carlos Grubisich has been a Censeur (a non-voting "Observer") of the Vallourec Supervisory Board since 9 November 2011.