Michel Favre to step down as group CFO in the coming months
Rexel and its Group Chief Financial Officer, Michel Favre, have agreed that Mr. Favre will leave the Group in the coming months to pursue new career opportunities.
Mr. Favre will remain in his Group CFO position, while stepping down from the Management Board, until the appointment of his successor and work alongside Rudy Provoost, Chief Executive Officer, to ensure a smooth transition.
Mr. Favre indicated to the Supervisory Board that he wishes to give a new orientation to his professional career after having supported the management transition at the Group’s helm over the past year.
Roberto Quarta, Chairman of the Supervisory Board, declared: “On behalf of the entire Supervisory Board I would like to thank Michel for his strong contribution to Rexel. He has played an important role in improving Rexel’s financial structure. He has also been instrumental in helping develop strong relations with the financial community. I speak for the entire board in wishing him well in the pursuit of new opportunities.”
Rudy Provoost, Chairman of the Management Board and CEO, added: “I am grateful to Michel for the support he has provided since I took over at Rexel, and for his willingness to ensure a smooth and orderly transtition. He has put in place a strong finance function and leaves solid foundations for his successor to build upon.”
Michel Favre, Group Chief Financial Officer, commented: “I have very much enjoyed my time at Rexel, whose market leadership and first-rate teams put it in a strong position to thrive even in today’s challenging conditions. With the leadership transition now fully completed, this is an appropriate time for me to consider new opportunities and fresh horizons. Rexel can count on my full support and commitment until such time as my successor is appointed.”