Press release Aix en Provence, May 24, 2010
Fady Khallouf appointed CEO of THEOLIA
THEOLIA's Board of Directors met on May 20, 2010 and unanimously and upon the proposal from its Chairman Eric Peugeot appointed Fady Khallouf as Chief Executive Officer of THEOLIA. Since the beginning of April, he has been carrying out a mission for Eric Peugeot who since February, in addition to his role as Chairman of the Board of Directors, has undertaken the role of Chief Executive Officer to allow the company to actively pursue its financial restructuring plan.
On this subject, the entire Board of Directors would like to extend its deep gratitude to Eric Peugeot "for his complete and total implication with the teams at THEOLIA in a crucial period and his willingness to bring together all efforts towards a worthwhile project, full of potential".
The Board has also renewed its confidence in Eric Peugeot as Chairman of the Board of Directors.
The Board of Directors considers that given Fady Khallouf's significant experience in the energy and environmental industries, his knowledge of the company acquired by Eric Peugeot's side, he is the best candidate to complete the capital increase. Following the success of this last step, he will be dedicated to the turnaround and development of the Company.
Fady Khallouf, a 49 year old French national, works as a consultant in strategy and restructuring. He has previously held the position of CEO of Tecnimont where he led the industrial and financial restructuring of the group. Prior to that, he took part in the restructuring of Edison, transforming the holding company into an operational company, improving the group's profitability and assuring the monitoring of its investments. Fady Khallouf had beforehand held various management positions, notably specialized in the fields of investments and business development, at EDF, Suez, SITA/ Novergie and Lyonnaise des Eaux-Dumez.
THEOLIA is an independent international developer and operator of wind energy projects. THEOLIA is active primarily in France, Germany and Italy, and also in India, Brazil and Morocco. THEOLIA trades on the compartment B of Euronext Paris, regulated market of NYSE Euronext, under the symbol TEO. The THEOLIA stock is part of in the CAC Small 90 index.
For more information
Edward F. McDonnell
Tel: +33 (0)4 42 906 594
Tel : + 33 (0)6 09 04 80 11
French Société Anonyme (public limited company with Board of Directors) with share capital of ¤40,308,707
Registered office: 75 rue Denis Papin BP 80199 - 13795 Aix-en-Provence cedex 3 - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment B of Euronext Paris, code: TEOInformation réglementée
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