New Management at Thomson
As of October 8th Thomson Multimedia will have new leadership. The move comes after the appointment of Thierry Breton, current chairman and CEO of Thomson, to the chair of France Telecom. Breton has agreed to stay in his present position until October 8th, when the share holders will meet, accept his resignation and make official the decision to split Breton's position in two, subsequently appointing Charles Dehelly as CEO and Frank Dangeard as chairman of the board.
Dangeard, a former lawyer and managing director at SBC Warburg, an investment bank, joined Thomson in 1997 and is currently vice-chairman of the Board. Dehelly, an electronics industry veteran, came to Thomson in 1998 and is currently its chief operating officer. As CEO, Dehelly will have four Senior Executive Vice Presidents : Al Arras, John Neville, Lanny Raimondo and Julian Waldron. As requested by the Board, Breton has agreed to remain a member of the Board and will chair the strategic committee.
The division of Breton's chairman and CEO position stems from a change in Thomson's bylaws and provisions in French new nusiness regulations law. According to the company. "These changes illustrate the Board's willingness to maintain in place a recognized management team, and its intention to take a new step in the application of corporate governance principles. Following these changes, Thomson will be one of the first French companies to apply corporate governance recommendations on the separation between the roles of chairman and chief executive officer."