Our governance

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Since July 1, 2021, the Company's governance structure is based on a Board of Directors.

The Board of Directors is comprised of 8 members among which 5 were qualified as independent by the Board of Directors in accordance with the criteria set forth in the Afep-Medef Code.

The Board of Directors benefits from the work of 4 specialized Committees that review specific matters: the Audit Committee, the Nomination, Remuneration & Governance Committee, the Strategic & Finance Committee and the Corporate Social Responsibility Committee.

An Executive Committee also supports the operational management of the Group.

Vallourec refers to the principles of corporate governance set out in the AFEP-MEDEF corporate governance code for French listed companies.

Executive Committee

The Vallourec Executive Committee team is responsible for leading the Group’s operations. It implements the strategic decisions and orientations defined by the Board of Directors under the chairmanship of Edouard Guinotte.

Since 1 July 2021, Olivier Mallet has been the Group's Deputy Chief Executive Officer.

Edouard Guinotte Chairman of the Board of Directors & Chief Executive Officer
Born on 10 December 1970 – French nationality

Chairman of the Board of Directors & Chief Executive Officer 
 
Summary of main areas of expertise and experience
Graduate of the Ecole des Mines de Paris, holds the INSEAD Management Program

1995
Joined Vallourec as head of logistics and production at Vallourec Composants Automobile. He spent his entire career within the Group and hold various positions in various countries

1998-2000
Group Controller and then became Director of an operating entity in Mexico for 3 years

2004
Marketing Director for the Automotive Division 

2007 
Strategy and Development Director of the Group's Oil and Gas business, where he led in particular the plans to acquire the first 20% of Tianda and the acquisition of Vallourec Saudi Arabia

2011-2014
President of Vallourec USA based in Houston, leading the commercial policy allowing Vallourec to double its sales in the United States following the start-up of the new Youngstown plant and then became Vice-President of the Group in charge of Trade and Development OCTG in the Eastern Hemisphere region

2017-2020
Senior Vice President and member of the Group's Executive Committee in charge of the Middle East and Asia

2020-2021
Chairman of Vallourec’s Management Board 

2021
Chairman of the Board of Directors & Chief Executive Officer since 1 July 2021
 
Olivier Mallet Deputy Chief Executive Officer 

Born on 14 July 1956 in Neuilly-sur-Seine (France)

Deputy Chief Executive Officer 

Summary of main areas of expertise and experience
  • Graduate of the École nationale d’administration
  • General Inspector of Finance (1981-1985)
  • French Ministry of Finance - Technical advisor within several cabinet offices, including that of the Prime Minister (1985-1993)
  • Thomson CE - Director of Planning, Budgeting and Management Control (1993-1995)
  • Thomson Multimedia - CFO and member of the Executive Committee with responsibility for finance (1995-2001)
  • Pechiney - CFO and member of the Executive Committee (2001-2004)
  • Areva - Deputy CFO for the group (2004-2006), then Head of the Mining, Chemistry and Enrichment sector (2006-2008)
  • Member of the Management Board of Vallourec, CEO, CFO and General Counsel (2008-2021)
  • Deputy Chief Executive Officer since 1 July 2021
pascal braquehais portrait
Pascal Braquehais Senior Vice President Middle East/Asia
Aged 55, Pascal Braquehais holds a master degree in Finance & Management. 

He began his career as an external auditor with Ernst & Young, then became Chief Financial Officer, member of the Management Committee of a European division of Tyco International until 2002. 

At that date, he joined Vallourec as Director of Audit and Financial Control.  

In 2008, he became Chief Financial Officer of Vallourec North America and member of the North American Executive Committee. He held this position until 2016 when he was appointed Managing Director of the Northeast Asia Region and General Delegate China. 

Since March 15, 2020, he has been named Senior Vice President of the Middle East Asia Region. 
pascal braquehais plein pied
Philippe Carlier Senior Vice President Technology & Industry
After graduating from the Centrale Paris school of engineering, Philippe Carlier began his career at EADS in 1988 and moved to Vallourec as a management controller in 1995. He held various positions such as plant manager, subsidiary Chief Operating Officer, and industrial director, before being appointed Director of Upstream activity (steel mills and rolling mills) in 2012.

He was in charge of Upstream and Industry activities (tubular products for mechanical engineering, construction and the automotive industry) until 2014. Since April 2017, he has been Senior Vice President Technology & Industry.
François Curie Vice President Corporate Human Resources
A lawyer by training, François Curie began his career in the Human Resources function of the Philips Group.

He then joined the Alcan Group where he assumed various Human Resources responsibilities, at both corporate and country level, in France, Switzerland and Canada.

Prior to joining Vallourec, he was Director of Human Resources, Environment, Health and Safety at Rio Tinto Alcan, the aluminum division of Rio Tinto, based in Montreal, Canada.

He has been Director of Human Resources for the Vallourec Group since 2010.
Bertrand Frischman portrait
Bertrand Frischmann Senior Vice President North America
Bertrand Frischmann, 46-year old, is a graduate of the Ecole des Mines, Paris and holds an engineering degree in industrial engineering and logistics.

After starting his career in the automotive and consulting sectors, he joined Vallourec in 2004 as a controller, first at corporate level and then, from 2005, at Vallourec Star in Youngstown, Ohio, where he supervised the integration of this new entity.

In 2007, he was appointed Production Manager of the tube mill at Vallourec Star. This first American experience ended in 2009, when he took over the management of the Saint-Saulve tube mill in France. 

He stayed there for 4 years before joining Aberdeen, UK, where he became managing director of VOG UK. 

Back in France, he became managing director at Serimax in 2016, then Director of the OCTG & Accessories Product Line starting from 2017.

Since April 1, 2020 Bertrand Frischmann has been appointed Senior Vice President North America, Member of the Executive Committee.
Bertrand Frischman
Naila Giovanni Chief Digital & Information Systems Officer
Naïla Giovanni has been appointed Chief Digital & Information Systems Officer since October 1st, 2020. 

Naïla began her career in 1995 as a financial auditor before joining the Oracle Group as a project manager. 

In 2001, she joined Arthur Andersen, now BearingPoint, where she worked for 12 years on consulting missions for the Energy and Industry sectors.

She joined Vallourec in 2013 to head the Internal Audit department before being appointed Chief Transformation Officer. In this role, she notably drove the Group's new organization, strengthened performance management, implemented a cultural change program and initiated the strategic diversification of the company around the Energy Transition. 

Naïla Giovanni holds a Master's degree in Economics and Finance from the University of Bordeaux.
Didier Hornet Senior Vice President Development & Innovation
Didier Hornet studied at the ENSMA mechanical and aeronautical engineering school in Poitiers and the IAE business school in Paris, and later took an executive MBA at Harvard.

He joined Vallourec as Marketing and Development Director in 1993, coming from Dassault Aviation, where he began his career.

Later, he headed the North Sea Oil and Gas business based in Aberdeen, then became Director of the Oil and Gas division in North America, based in Houston.

In 2009, he took over the Oil and Gas activity at Group level, and has been running the Group's OCTG (production and casing tubes, threading of oil and gas tubing) and Drilling Products (oil and gas drilling) activities since 2014. In 2015, he became Eastern Hemisphere Director.

Since April 2017, he has been Senior Vice President Development & Innovation.
Claire Langelier Group General Counsel
Claire Langelier has been appointed Vallourec Group General Counsel and Secretary of the Supervisory Board since July 1st 2020.

Claire started her career in the law firm Latournerie Wolfrom & Associés in Paris, where she spent 13 years in the Corporate, Merger and Acquisitions and Private Equity Department.

In 2013, she joined Econocom as Senior Legal Counsel, in charge of Corporate, Merger and Acquisitions.

She joined Vallourec in 2015 and was previously Senior Legal Director in charge of Group Governance, Stock Exchange and Financing Law.

Claire Langelier holds a Master of Corporate Business Law from Paris IX-Dauphine and a Master from the Institute of Business Management, IAE. Paris I-Sorbonne, as well as a Professional Lawyer's Certificate (CAPA) from Paris Bar.
Alexandre Lyra Senior Vice President South America
A graduate from the Instituto Militar de Engenharia (Rio, Brazil) and the Aachen University of Technology (Germany), Alexandre Lyra joined Vallourec as a research engineer in 1991.

He has spent all his career at Vallourec Tubos do Brasil (VBR), where he became Chief Operating Officer for Brazil in 2009. He has been Senior Vice President South America since 2015.
Hubert Paris Senior Vice President Europe/Africa
Hubert Paris graduated from Ecole Polytechnique Palaiseau and ENSTA ParisTech. He has a Master of Science from the University of California, Santa Barbara and an executive MBA from the CPA Paris.

He began his career at SGN (COGEMA subsidiary) and joined Vallourec in 1998 as a management controller. He spent five years in Brazil, first as Controlling department director at Vallourec Tubos do Brasil, then as a director of the Automobile business unit of the Brazilian subsidiary.

After returning to France, he worked as Marketing & Sales director, then Chief Operating Officer of the Automobile division.

In 2007, he joined Salzgitter AG to support sales of Vallourec Précision Etirage, worked as CEO of the Salzgitter precision tubes business, and was a member of the management board of MRW, the German group tubes business holding.

Back at Vallourec in 2013, he was named Group Quality Director. Since 2014, he has been responsible for the Valens competitiveness plan. He has been Senior Vice President Europe/Africa since April 2017.

Board of Directors

The Board of Directors determines the Group’s strategic direction and ensures its implementation.  

Vallourec’s Group refers to the corporate governance Code for French listed companies published by AFEP and MEDEF. 

The Board of Directors of Vallourec is comprised of 8 members including 50% of women and 62% of independent Board members. It also includes 2 observers. Its decisions are made in light of the recommendations of 4 Board Committees:

the Audit Committee, 
• the Nomination, Remuneration & Governance Committee,
the Strategic & Finance Committee and
the Corporate Social Responsibility Committee.

Directors are elected for a four-year term (article 9 of the bylaws), in accordance with the recommendations of the AFEP-MEDEF corporate governance Code for French listed companies.

The Board’s composition reflects a diverse and complementary range of experience, nationalities and cultures, ensuring that the interests of all shareholders are taken into account. 

Edouard Guinotte 2025 OSM Chairman of the Board of Directors & Chief Executive Officer
Born on 10 December 1970 – French nationality

Chairman of the Board of Directors & Chief Executive Officer 
 
Summary of main areas of expertise and experience
Graduate of the Ecole des Mines de Paris, holds the INSEAD Management Program

1995
Joined Vallourec as head of logistics and production at Vallourec Composants Automobile. He spent his entire career within the Group and hold various positions in various countries

1998-2000
Group Controller and then became Director of an operating entity in Mexico for 3 years

2004
Marketing Director for the Automotive Division 

2007 
Strategy and Development Director of the Group's Oil and Gas business, where he led in particular the plans to acquire the first 20% of Tianda and the acquisition of Vallourec Saudi Arabia

2011-2014
President of Vallourec USA based in Houston, leading the commercial policy allowing Vallourec to double its sales in the United States following the start-up of the new Youngstown plant and then became Vice-President of the Group in charge of Trade and Development OCTG in the Eastern Hemisphere region

2017-2020
Senior Vice President and member of the Group's Executive Committee in charge of the Middle East and Asia

2020-2021
Chairman of Vallourec’s Management Board 

2021
Chairman of the Board of Directors & Chief Executive Officer since 1 July 2021
 
Pierre Vareille 2025 OSM Lead & Independent Director
Born on 8 September 1957 – French nationality

Lead & Independent Director
Vice-Chairman of the Board of Directors
Chairman of the Remuneration, Nomination & Governance Committee

 
Summary of main areas of expertise and experience
  • Former student at the École Centrale Paris (now CentraleSupélec), Sciences Po Paris, and a graduate in Economic Sciences from the Sorbonne
  • He began his career in 1982 at Vallourec, where he rose to hold various senior management positions in subsidiaries of the Group
  • CEO, then Chairman & CEO at GFI Aerospace, then at Faurecia as Director of the Exhaust Systems business line and member of the Executive Committee
  • Member of the Executive Committee at Pechiney, responsible for the Aluminum Processing sector, and Chairman of Pechiney Rhenalu (2002-2004)
  • CEO of the British automotive products manufacturer Wagon PLC, a company listed on the London Stock Exchange (2004-2007)
  • Chairman & CEO of FCI (2008-2011), the world's fourth largest manufacturer of connectors with industrial sites in 20 countries
  • CEO of Constellium (2012-2017), a company listed on the New York Stock Exchange and a world leader in aluminum processing, with sales approaching €5 billion in 2020
  • Chairman of the Bic Group (until 2021)
     
Main activities performed outside the company
  • Director of companies
  • Investor in several Internet and high-tech companies in Europe and the United States
  • Chairman of the Vareille Foundation, whose main objective is to develop the cognitive skills of children from disadvantaged backgrounds through intensive violin lessons as part of the school curriculum
corinne de bilbao woman at vallourec's board
Corine de Bilbao 2024 OSM Independent Director
Born on 16 October 1966 - French nationality

Independent Director
Chairwoman of the CSR Committee
Member of the Audit Committee
Member of the Strategic & Finance Committee
 
Summary of main areas of expertise and experience
  • Graduate of Sciences Po Bordeaux and holder of an MBA in Sourcing and Supply Chain Management from the M.A.I Institute of Purchasing Management
  • Sourcing Manager and Service Manager GE Medical Systems, medical imaging equipment sector (1989-2000)
  • Twenty years’ experience in the energy sector of which eight in Oil & Gas
  • European Sourcing Director GE Power Gas Turbines (2000-2003)
  • Upstream Sales Director GE Oil & Gas (2003-2008)
  • Sales VP Products Areva T&D (2008-2010)
  • Head of Services GE Energy (2010-2011), General Manager for Europe then Vice President of Sales of the Subsea Division of General Electric Oil & Gas (2011-2016)
  • Chairman of General Electric France (2016-2019)
  • Vice-President of AmCham, the American Chamber of Commerce in France (2016-2019)
  • Chief Executive Officer of Segula Technologies International, engineering group (2019-2021)
Main activities performed outside the company
  • CEO of Microsoft France
  • Member of the Advisory Board of ING Bank France
  • Director of Orpéa*
 * Listed company (for positions currently held).
corinne de bilbao woman at vallourec's board
William de Wulf 2025 OSM Director
Born on 9 October 1982 – French nationality 

Director 
Member of the Audit Committee
Member of the Remuneration, Nomination & Governance Committee 
Member of the Strategic & Finance Committee                
 
Summary of main areas of expertise and experience
  • Graduate of Ecole Polytechnique in France (MSC in Applied Mathematics and Economy in 2006) and Columbia University in the US (MSc in Financial Engineering in 2007)
  • Formerly Executive Director at Goldman Sachs (2007-2018) in the Special Situations Group (London and New York)
  • Joined SVPGlobal in London in 2018, where he is a Managing Director overseeing investments for the European Investment team
  • Serves as board member for Vitafoam, board observer for Swissport, and formerly served as board member for Pfleiderer
Main activities performed outside the company
  • Managing Director, European Investment team, SVPGlobal
Maria Silvia Marques 2023 OSM Independent Director
Born on 27 December 1956 – Brazilian nationality

Independent Director
Member of the Audit Committee
Member of the Remuneration, Nomination & Governance Committee
Member of the CSR Committee
 
Summary of main areas of expertise and experience
  • Bachelor’s degree in public administration, PhD in Economics
  • Former positions in public and private sectors: Goldman Sachs (CEO and Chair), BNDES (CEO), Rio Olympic Games (CEO of City Planning), Icatu Seguros (CEO), CSN (CEO), Secretary of Finance (city of Rio)
  • Board membership of Vale, Petrobras, Anglo American, Marsh McLennan, Arcelor Brasil
Main activities performed outside the company
  • Director of companies
Angela Minas 2022 OSM Independent Director
Born on 23 March 1964 – Greek-American nationality

Independent Director
Chairwoman of the Audit Committee
Member of the Remuneration, Nomination & Governance Committee 
Member of the CSR Committee           
 
Summary of main areas of expertise and experience
  • Ms. Minas is a graduate of Rice University, where she earned a Bachelor of Arts in Managerial Studies and a Master of Business Administration with a concentration in Finance and Accounting
  • She has previously served on the board of directors and audit committees of CNX Midstream Partners LP, Weatherford International plc, and Ciner Resources LP. Ms. Minas served as Vice President and Chief Financial Officer of DCP Midstream Partners. She served as Chief Financial Officer, Chief Accounting Officer and Treasurer of Constellation Energy Partners. She served as Senior Vice President, Global Consulting and Vice President, US Consulting for Science Applications International Corp. She was a Partner with Arthur Andersen LLP and also served as Partner leading North American Oil & Gas Consulting
  • Ms. Minas currently serves as a member of the Council of Overseers of the Rice University Graduate Business School and is an NACD (National Association of Corporate Directors) Leadership Fellow and Director for Westlake Chemical Partners
Main activities performed outside the company
  • Director for Westlake Chemical Partners and member of the Audit Committee
Hera Siu 2022 OSM Independent Director
Born on 16 September 1059 – Chinese nationality

I
ndependent Director
Member of the Audit Committee
Member of the CSR Committee  

Summary of main areas of expertise and experience
  • Ms Siu holds an MBA degree and a Bachelor of Science in finance degree from the University of Nevada, Reno
  • She possesses more than 30 years of management experience, with a profound understanding of outcome-based solutions and emerging business models. Ms. Siu has held Greater China region leadership positions spearheading growth and transformation in international renowned companies such as Cisco, Pearson, SAP, Nokia, Computer Associates and Pacific Century Cyberworks (PCCW) / Hongkong Telecom
  • Ms. Siu spent 8 years working in the United States with Northern Telecom and Sierra Pacific Power Company before returning to China. She possesses a strong background in international business and has an in-depth understanding of the challenges customers and partners face in the region's dynamic business environment
  • Reputed for her professional leadership and a constant aspiration to inspire, Ms. Siu was selected as one of the Annual Leaders of the Chinese Information Industry (2011,2012, 2018) and listed on the 50 Most Powerful Women, Fortune Global in 2011
Main activities performed outside the company
  • Co-founder of B&H Consulting Ltd, based in Beijing CHINA
  • Non-executive Director of Goodyear Tires & Rubber
  • Independent Director of AInnovation
Gareth Turner 2025 OSM Director
Born on 11 February 1964 – Canadian nationality 

Director 
Chairman of the Strategic & Finance Committee
Member of the Audit Committee

Summary of main areas of expertise and experience
  • Graduate of the University of Western Ontario (MBA with Distinction in 1991) and the University of Toronto (Bachelor’s degree obtained in 1986) 
  • Employed at RBC Dominion Securities (1986-1989), Salomon Brothers (1991-1992) and Lehman Brothers (1992-1997) 
  • Managing Director in London for Goldman Sachs within the natural and industrial resources investment banking group from 1997 to 2005, where he was Global Head of Metals and Mining and Co-Head of the Global Chemicals division. He has a broad range of experience in M&A transactions and capital markets. He played a major role as a key advisor within Goldman Sachs’ private equity group (1997-2005) 
  • He has served on the Board of Directors of Phoenix Services, Warrior Met Coal, Constellium, Monier and Noranda Aluminum
  • Senior partner at Apollo Management, based in New York, where he oversees investments in the Metals and Mining industry
     
Main activities performed outside of the company
  • Senior partner at Apollo Management, NY
Paul Marchand 30 June 2025 Observer
Born on 18 October 1980 – British nationality
Conor J. Sutherland 30 June 2025 Observer
Born on 11 September 1987 – American nationality

Board Secretary

Claire LANGELIER, Group General Counsel of Vallourec

Committes of the Board

Four committees assist the Board of Directors. They are consulted on matters prior to certain deliberations and issue proposals, recommendations and opinions in their respective areas of competence.

The Audit Committee

The Audit Committee reviews the quarterly results, the draft half-yearly and annual financial statements and assesses risk management and the internal control systems.

The Audit Committee is comprised of six members: Ms. Angela Minas (Chairwoman), Ms. Maria Silvia Marques, Ms. Corine de Bilbao, Mr. William de Wulf, Ms. Hera Siu and Mr. Gareth Turner.

The Nomination, Remuneration & Governance Committee

The Nomination, Remuneration & Governance Committee reviews the composition and operation of the Board. It defines the compensation policy for the Group's executive directors, proposes a general long-term compensation policy and examines the annual plans for the allocation of options and performance shares.

The Nomination, Remuneration & Governance Committee is comprised of four members: Mr. Pierre Vareille (Chairman), Ms. Maria Silvia Marques, Mr. William de Wulf and Ms. Angela Minas.

The Strategic & Finance Committee

The Strategic & Finance Committee reviews key subjects for the Group, issues recommendations on acquisitions, divestitures and partnership projects and studies all strategic matters of interest to the Group.

The Strategic & Finance Committee is comprised of three members: Mr. Gareth Turner (Chairman), Ms. Corine de Bilbao and Mr. William de Wulf.

The Corporate Social Responsibility (CSR) Committee

The CSR Committee's mission is to ensure that the Group best anticipates the challenges, opportunities and extra-financial risks associated with its business in order to promote responsible and harmonious long-term value creation. It makes recommendations on the Group's policy and achievements in this area.

The CSR Committee is comprised of four members: Ms Corine de Bilbao (Chairwoman), Ms. Maria Silvia Marques, Ms. Angela Minas and Ms. Hera Siu.

Information relating to the compensation of corporate officers

Statutory Auditors

KPMG SA
Deloitte & Associés
Represented by:
Represented by:
Ms Alexandra Saastamoinen
Ms Véronique Laurent
Tour Eqho - 2, avenue Gambetta 92066 Paris-La Défense Cedex
Tour Majunga - 6, place de la Pyramide 92908 Paris La Défense Cedexx
Date on which first appointment commenced / Date of renewal:
Date on which first appointment commenced / Date of renewal:
Date of first mandate :
Date of first mandate :
1st of June 2006
1st of June 2006
Date of renewal:
Date of renewal:
25 of May 2018
25 of May 2018