Press release Aix en Provence, February 10th, 2010
THEOLIA reorganizes its general management to accelerate the implementation of its restructuring plan.
Eric Peugeot takes over the General management of THEOLIA.
During the Directors meeting of February 9th, 2010, Eric Peugeot, Chairman of the Board, was nominated Chief Executive Officer of THEOLIA.
He will be assisted in this function by 2 delegate Chief Executive Officers : Jean-François Azam who is to take charge of the Operational Management and François Rivière, in charge of Finances.
He replaces Marc van't Noordende, who had taken up the post in September 2008, and established the first phase of the company's development.
The Board of Directors indeed pointed out that it was now essential to accelerate the implementation of the financial restructuring plan to allow the company to finance its growth and to prepare itself for this new stage.
«We are now entering a new phase of the life of the company. We have to concentrate our energies around the implementation of our financial restructuring plan and quickly recover our of development capacity. We have a strong potential for profitable growth which we will be able to optimize with this plan" said Eric Peugeot.
The Restructuring plan will be subject to the approval of the bondholders during a general assembly on February 18th and also the extraordinary General Assembly of the shareholders on March 19th, 2010.
Eric Peugeot, 53, French, is a sales engineer. He was Europe marketing manager for Automobiles Peugeot, and Sponsoring and Partnerships Director for Automobiles Peugeot until 2000. He now holds numerous mandates abroad at subsidiaries of the PSA Group including Chairman of the Board of Peugeot in Belgium, Portugal and the Netherlands. He is director of Peugeot Frères, La Française de Participation Financière (FPF), SKF France and the HESTIUN Group.
Jean-François Azam, 45, was, since 2006, Chief Executive Officer of THEOLIA France and Morocco. Engineer, graduate of the Ecole Polytechnique Fédérale of Lausanne, he worked successively for the Compagnie Générale de Géophysique, the COGEMA Group, EOLE-RES S.A, the GAUDRIOT Group and the GINGER Group as Chief Executive Officer from 2004 until 2006.
François Riviére, 56, has worked as Financial Director for several multinationals: Saint Gobain Desjonquéres, Oberthur Card Systems, Wilson Gestion, and the Prouvost Group. He started his career in 1977 at IBM then at Schlumberger.
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 B compartment of Euronext Paris, the regulated market of NYSE Euronext, under the symbol TEO. THEOLIA stock is part of the CAC Small 90 index.
For more information
Diane d'Oleon +33 (0)6 09 04 80 11 email@example.com
French Société Anonyme (public limited company with Board of Directors)
with share capital of 40,208,707¤
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: TEO
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