Favre to step down as Rexel Group CFO

Rexel and its Group Chief
Financial Officer, Michel Favre, have agreed that Favre will leave the group in
the coming months to pursue new career opportunities.


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.


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


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


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 transition. He has put in place a strong finance function and leaves
solid foundations for his successor to build upon.”


Favre said, “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.”


Rexel, a global leader in the
distribution of sustainable and innovative products and services for
automation, technical supply and energy management, addresses three main
markets – industrial, commercial and residential. The group supports customers
around the globe, wherever they are, to create value and run their businesses
better. With a network of some 2,200 branches in 37 countries, and over 28,000
employees, Rexel’s sales were €12.7 billion in 2011. Its majority shareholders
are an investor group led by Clayton, Dubilier & Rice, Eurazeo and BAML
Capital Partners.

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