Home ShipmanagementClassification Societies Evolution of Bureau Veritas governance: Didier Michaud-Daniel is appointed Chief Executive Officer as of March 1, 2012

Evolution of Bureau Veritas governance: Didier Michaud-Daniel is appointed Chief Executive Officer as of March 1, 2012

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Neuilly-sur-Seine, France, February 14, 2012* – Following its meeting of February 13, 2012, the Board of Directors of Bureau Veritas, chaired by Frank Piedelièvre, is pleased to announce the appointment of Didier Michaud-Daniel as Chief Executive Officer of Bureau Veritas as of March 1, 2012.

Since 2008, Didier Michaud-Daniel has been Chairman of the Board and President of Otis Elevator Company, a global company part of the United Technologies Corporation. At the head of Otis, worldwide leader with USD 12bn in revenues and 60, 000 employees, Didier Michaud-Daniel has demonstrated his outstanding capability to lead and mobilize international teams, conduct value-creating acquisitions and deliver best-in-class financial results. Didier Michaud-Daniel also brings a wealth of experience in professional services that will contribute to further develop Bureau Veritas.

Frank Piedelièvre, who has been Bureau Veritas’ Chief Executive Officer for 17 years and Chairman of the Board of Directors since 2009, will remain actively involved in the Group’s governance as Chairman of Bureau Veritas’ Board of Directors. He will support Didier Michaud-Daniel in his new role.

The members of the Board of Directors of Bureau Veritas unanimously expressed their gratitude for the exceptional and long-standing leadership Frank Piedelièvre has brought to Bureau Veritas, building an outstanding company performing at world-class level. They welcome his continued role as Chairman of the Board of Directors.

Frank Piedelièvre declared “This governance evolution which I suggested comes at the right time. 2012 is the first year of Bureau Veritas’ 2015 strategic plan, which introduces a new cycle of expansion for our Group. We have a clear vision of our future, a great team of executives and a solid operating model. Didier will bring new ideas while safeguarding Bureau Veritas’ entrepreneurial and disciplined business culture”.

Didier Michaud-Daniel stated “For me, to join Bureau Veritas is a very exciting opportunity, as Bureau Veritas is a remarkable company with great assets, a world leader in a field of ever increasing reach and significance. To be Frank’s successor is a stiff challenge. But I feel well prepared and very enthusiastic to work with Bureau Veritas’ great management teams to ensure the Group’s continuing success”.

Finally, Frédéric Lemoine, Vice-Chairman of Bureau Veritas’ Board of Directors and Chairman of Wendel’s Executive Board has expressed his confidence in this change: “With Frank Piedelièvre as Chairman of the Board, Didier Michaud-Daniel as Chief Executive Officer, a first-class executive team and a highly qualified workforce, Bureau Veritas is well positioned to achieve its 2015 plan objectives. I am fully supportive of Bureau Veritas and have high expectations for the many years to come”.

Didier Michaud-Daniel’s biography: Didier Michaud-Daniel, 54, was named President of Otis Elevator Company in May 2008. Prior to this position, Didier Michaud-Daniel served as President of Otis’ United Kingdom and Central Europe Area, a position he held from August 2004 until May 2008. From September 2001 through August 2004, Didier Michaud-Daniel was Managing Director, Otis United Kingdom and Ireland, following 20 years of service with Otis France. Didier Michaud-Daniel’s career at Otis began in 1981 in service sales, progressing into sales, branch and field support management. In 1991, he was appointed Field Operations Director for Otis France and, in 1992, was promoted to the position of Paris Field and Sales Operations Director. He was named Deputy General Manager, Operations in January 1998.

Didier Michaud-Daniel is a graduate of the Ecole Superieure de Commerce with a degree in business management and is also a management graduate of INSEAD. He serves on the Board of Trustees of the Kingswood Oxford School and on the Board of Directors of Hartford HealthCare.

(news delayed as internet was down this day and missed same)

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