Boulogne-Billancourt, 13 December 2010 – At
its meeting held on 13 December 2010, Vallourec’s Supervisory Board co-opted
Mrs Pascale Chargrasse, as member of the Supervisory Board, representing
Vallourec employee shareholders.
On 3 December 2010, at the close of the Value
10, the Vallourec employee shareholder plan, employees of the Group owned over
3% of Vallourec’s share capital.
Mrs Chargrasse, employee of the Group since
1985, is a member of the Supervisory Board of one of the Corporate Mutual Funds
(Fonds Communs de Placement d’Entreprise) invested in Vallourec shares. Her
appointment is subject to approval at the Annual General Shareholders’ Meeting
scheduled for 7 June 2011.
Jean-Paul Parayre, Chairman of Vallourec’s Supervisory
Board said: “The Supervisory Board is pleased to see a growing employee
participation in Vallourec’s share capital and is delighted that employees will
now be contributing to the Board’s discussions.”
Philippe Crouzet, Chairman of the Management
Board, added: “Close to 70 per cent of Group employees subscribed to Value 10,
the third employee shareholder programme in three years. Employee share
ownership in Vallourec has thereby reached a significant level. This success
demonstrates the confidence of Vallourec’s people in the future of the company.”
At the same meeting, the Supervisory Board
noted the resignation of Mr François Henrot as member of the Supervisory Board
and Strategy Committee. In order to continue benefiting from his valued advice,
the Board nominated him as Censeur (non-voting Board member).
Mrs Pascale Chargrasse
Pascale Chargrasse, who graduated from the
Orsay Technology Institute with a DUT diploma in Computer Science, joined the
Group in 1985 as an Analyst Programmer.
Member of the Supervisory Board of Vallourec
Actions Corporate Mutual Fund (FCPE), Pascale Chargrasse currently works as a
Business Development Manager at Valinox Nucléaire, a wholly-owned Vallourec
subsidiary. She is also a union representative on the Group’s Works Council.