Boulogne-Billancourt, 7 March 2007 - At its
meeting on 6 March 2007, Vallourec’s Supervisory Board accepted Mr Vincent
Bolloré’s decision to resign from the Board with effect from 5 March 2007. Mr
Bolloré joined the Supervisory Board in June 2004 at a time when his group held
a stake of over 25% in Vallourec’s capital.
The Board paid tribute to the valuable
contribution made by Mr Bolloré to its work during a period marked by
Vallourec’s expansion and rapid growth in its financial results. Financière de
Sainte Marine, a subsidiary of Groupe Bolloré represented by Mr Thierry
Marraud, remains a member of the Supervisory Board.
The Supervisory Board has co-opted Prof. Dr.
Edward G. Krubasik to replace Mr Wolfgang Leese, Chairman of the Executive
Board of Salzgitter AG, who resigned in late August 2006 following Salzgitter’s
disposal of its holding in Vallourec.
After a long career with McKinsey, Mr Krubasik
spent almost a decade, from 1997 to 2006, as a member of Siemens’ Executive
Board, on which he held a prominent position. He is a member of Dresdner Bank’s
Supervisory Board and participates in the work of a number of organisations,
notably as a member of the German Council for Sustainable Development and as
Vice President of the Presidential Board of the Federation of German Industries
Jean-Paul Parayre, Chairman of Vallourec’s
Supervisory Board, explained: “We are delighted that Mr Edward G. Krubasik has
agreed to become a member of our Board. He is a skilled administrator and an
expert in matters of corporate strategy, and will certainly contribute to the
effectiveness of our work due to his extensive professional experience.”