Latecoere: Annual Shareholders’ Meeting and Governance updates

30 Dec 2024 22:58 CET

• All resolutions submitted to the Annual Shareholders’ Meeting were approved.
• Nick SANDERS is appointed new Chairman of the Board.
• André Benhamou has joined the Board as board observer on behalf of the French State.

Regulatory News:

Latecoere (Paris:LAT):

ANNUAL GENERAL MEETING

The 2024 Annual General Meeting of LATECOERE shareholders was held at the Company's registered office today and all resolutions submitted were approved. Detailed voting results are available on the Company's website: Regulated information - Latecoere.

GOVERNANCE UPDATES

Subsequently to the Annual General Meeting, Latecoere's Board of Directors has met and has decided to appoint Nick Sanders as new Chairman of the Board in replacement of Thierry Mootz who remains director of the Company.

Nick Sanders is an engineer by background who brings extensive aerospace industry experience. In particular he has deep knowledge of complex industrial turnarounds from prior management and board director roles. Nick began his career at Rolls Royce spending 13 years working on engine development and technical support. He then spent almost a decade at Lucas Aerospace where he was made Group VP Operations in 1996 and where he gained foundational experience of driving major turnaround programs. In 2002, he became CEO of CompAir, leading a buyout with Alchemy Partners. Under his leadership, the company turned a major loss into a profit within five years. He also served as interim CEO of Deloro Stellite (a Duke Street investment) before co-founding Better Capital. From 2010 to 2019, he served as Executive Chairman of Gardner Aerospace. He led its transformation from a company in distress to a growing and profitable business which became one of Airbus’ top 8 detailed parts suppliers in 2018. Nick serves on the boards of Doncasters (aerospace and industrial), Elcogen plc (hydrogen fuel) and Walker Precision Ltd (defense). Nick is a Chartered Engineer and Fellow of both the Institute of Mechanical Engineers and the Royal Aeronautical Society. Nick is a lifelong aerospace enthusiast and trustee of the Royal Air Force Museum.

“I am delighted to joining the board of Latecoere as Chairman. I look forward to working with the board and management team to ensure that the business delivers for all stakeholders and realises its full potential,” said Nick Sanders.

Additionally, the Board of Directors has decided to replace Sam Marnick with June du Halgouët on its committees and to appoint June du Halgouët as Chairwoman of the Appointment and Compensation Committee.

Finally, André Benhamou has joined the Board of Directors as board observer “Censeur” on behalf of the French State.

André Benhamou has successively served as Technical Director, General Manager, and President of Liebherr Aerospace Toulouse, and later as General Manager of the Aeronautics and Transport Division of the Liebherr group. He has been Vice President and Board Member of the Aerospace Valley competitiveness cluster.

Currently, André Benhamou is also the Chairman and CEO of IRDI Capital Croissance, an investment fund dedicated to SMEs in the Occitanie region, Honorary President of the TOMPASSE association, and a Board Member of the Cercle d’Oc.

A graduate of ENSEA (École Nationale Supérieure de l'Électronique et de ses Applications) with a specialization in industrial and medical electronics, and holding a Advanced Studies Diploma (DEA) in information processing from the University of Orsay, he began his career as an expert in digital computers.

André Benhamou is a key figure in the economic and industrial development of Occitanie and provides valuable and expert analysis in his role as board observer.

Latecoere Board Committees:

• Audit, Risks and ESG Committee

Chairwoman: Laurence Dors, independent director
Members: Thomas De Canniere and June du Halgouët

• Appointment and Compensation Committee

Chairwoman: June du Halgouët
Members: Thomas De Canniere and Christophe Villemin

About Latecoere
Tier 1 to the world’s leading OEMs (Airbus, BAE Systems, Boeing, Bombardier, Dassault Aviation, Embraer, Honda Aircraft Company, Lockheed Martin, RTX, Thales), Latecoere serves aerospace with innovative solutions for a sustainable world. The Group operates in all segments of the aerospace industry (commercial, regional, business, defense and space) in three business areas:

• Aerostructures Europe and Americas: doors, fuselage, wings and empennage, rods;
• Interconnection Systems: wiring, avionic racks, on-board systems;
• Special Products and Services: customer services, on-board equipment, electronic systems.

As of December 31, 2023, the Group employed 5,497 people in 14 countries. Latecoere is listed on Euronext Paris - Compartment B, ISIN Code: FR001400JY13 - Reuters: AEP.PA - Bloomberg: AT.FP

View source version on businesswire.com: https://www.businesswire.com/news/home/20241230127870/en/

Media Relations
Thierry Mahé
+33 (0)6 60 69 63 85
LatecoereGroupCommunication@latecoere.aero

Investor Relations
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