Vallourec Supervisory Board

25/03/2019 - Governance
Term renewals and appointment of a new Board member

Boulogne-Billancourt (France), 25 March 2019 – In its 21st March 2019 session, the Supervisory Board decided to submit to the vote of the Shareholders' Meeting on 23rd May 2019 the renewal of the terms of Ms. Maria Pilar Albiac-Murillo, Mr. Philippe Altuzarra and Ms. Pascale Chargrasse, which are expiring, for a new four-year period.

The Supervisory Board also decided to co-opt Ms. Corinne de Bilbao as a Supervisory Board member to replace Mr. José Carlos Grubisich, who resigned. The ratification of Ms. Corinne de Bilbao's appointment will be proposed to the Shareholders' Meeting on 23rd May 2019.

Ms. de Bilbao is President & CEO of GE France since March 2016. In this strategic position, her mission is to support the development of GE's business in France and the transformation of the company. Prior to taking over the management of GE France, she held the position of Vice President of Sales, Subsea Division of GE Oil & Gas, in charge of the global development of the division's activities, particularly in Africa and Latin America.

Corinne de Bilbao has an industrial experience of nearly 30 years, including more than 20 years devoted to the energy sector, the petroleum industry, generation and electrical distribution. She also spent two years at Areva T&D as Vice President of Sales, Product Division. With this background, she acquired a global vision of the industry and its challenges in a wide variety of markets.

The Supervisory Board considered that Corinne de Bilbao must be qualified as an independent member.

The Chairman of the Supervisory Board and all Board members would like to warmly thank Mr. José Carlos Grubisich for his active involvement and contribution to the work of the Supervisory Board and the Strategic Committee.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for challenging industrial applications such as oil and gas wells in harsh environments, new generation power plants, daring architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D continually open new technological frontiers. Operating in more than 20 countries, its 19,000 dedicated and passionate employees work hand-in-hand with their customers to offer more than just tubes: they deliver innovative, safe, competitive and smart tubular solutions to make every project possible.

Listed on the Euronext in Paris (ISIN code: FR0000120354, ticker VK) and eligible for the Deferred Settlement Service (SRD), Vallourec is included in the following indices: SBF 120 and Next 150.

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094; Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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