Press release of June 1st 2006
1 June 2006 - Finances
As soon as the meeting of the VINCI Board of Directors was declared open today at 18.00, Antoine Zacharias submitted his resignation from his roles as Chairman and member of the Board “in the best interests of the company and to put an end to the troubles within its management team”.
The Board accepted his resignation and paid unanimous tribute to his work which, in less than 10 years, made VINCI world leader in concessions and construction, notably through the successive acquisitions of Sogeparc, GTM and ASF. Since 1997, under the chairmanship of Antoine Zacharias, VINCI’s revenue tripled, its net profit increased 21-fold and its market capitalisation 20-fold.
The Board of Directors elected Yves-Thibault de Silguy Chairman and confirmed Bernard Huvelin and Bernard Val as Vice-Chairmen.
Xavier Huillard, Director and Chief Executive Officer, indicated that, in full agreement with the Board of Directors, VINCI will continue the growth strategy in concessions and construction that has been successfully implemented for many years.
Yves-Thibault de Silguy, 57, has a degree in law from the University of Rennes, a Master’s degree in public law, and is a graduate of the Institut d’Etudes Politiques de Paris, public service section, and of the École Nationale d’Administration. From 1976 to 1981, he worked at the Ministry of Foreign Affairs and then from 1981 to 1985, for the European Commission. He then worked at the French Embassy in Washington as a Counsellor (economic affairs) from 1985 to 1986. From 1986 to 1988, he was an adviser in the Prime Minister’s office with responsibility for European affairs and international economic and financial affairs. From 1988 to 1993, he was Director in the international affairs department and then Director for International Affairs of the Usinor Sacilor Group. From 1993 to 1995, he was Secretary-General of the Interdepartmental Committee for Questions of Economic Cooperation in Europe and at the same time, adviser for European affairs and vice-sherpa in the Prime Minister’s office, assisting in the preparation of summits of the industrialised nations. From 1995 to 1999, he was European Commissioner responsible for economic, monetary and financial affairs. In January 2000, he became a member of the Executive Board of Suez Lyonnaise des Eaux, of which he was Chief Executive Officer from 2001 to 2002. Until now, he was Senior Executive Vice-President of Suez.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.