Egide: Reorganization of Egide SA completed - Arrival of a new CFO

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Press Release

Bollène, December 03, 2019 – 06:00pm (CET)

Egide Group (Euronext Paris™- FR0000072373 - GID) today announced the completion of its restructuring plan for Egide SA. Launched in July 2019, this restructuring was accompanied by a major change in administrative and financial services. To lead these changes, Luc Ardon was appointed as Chief Financial Officer.

Reporting directly to Jim Collins, Luc Ardon is in charge of improving the Egide Group's financial management and strengthening performance management within its 3 Business Units. Since its arrival on October 1, 2019, the Trappes site has been closed (except the sales department), the financial and administrative services have been moved to Bollène and are now operational. The effective launch of the new ERP tool, which is under way for several years, is scheduled for March 1, 2020, in order to benefit from the productivity gains expected for Egide SA.

With more than 25 years of experience, Luc Ardon is experienced in leading transformation projects: CFO and member of the Quantel Group's management board since 2009, he accompanied the merger with Keopsys in 2016, which gave rise to Lumibird, a new entity for which he was CFO until 2018. Between 1996 and 2008, he held senior management and financial positions at Kodak Trophy, where he led the integration of Trophy into Kodak.

" "said Jim Collins, President and CEO of Egide Group.

2019 revenue: January 29, 2020 (after French market closure)

Egide is listed on Euronext Paris™- Segment C - ISIN code: FR0000072373 – Reuters: EGID.PA – Bloomberg: GID

More news and information about EGIDE

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Globe Newswire: 17:00 GMT Tuesday 3rd December 2019

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