CGG: announces the launch of CEO succession plan
December 04 2017 - 4:31PM
CGG announces the launch ofCEO
succession plan
Paris, France - December 4, 2017
With the favorable decision of the Paris Commercial court
approving the safeguard plan further to the approval of the
resolutions necessary to implement the plan by the extraordinary
general meeting and the confirmation judgement for the Chapter 11
in the United States, the next procedural step of CGG's financial
restructuring, before implementing its financial restructuring plan
which should be completed in Q1 2018, is the hearing scheduled
on December 21, 2017 to consider the motion for the
recognition of the ruling approving the safeguard plan within the
context of the Chapter 15 proceedings.
As CGG is now moving towards a new stage, and
after 8 years as Chief Executive Officer of CGG, Jean-Georges
Malcor has decided, in agreement with the Board of Directors, not
to pursue his mandate of Chief Executive Officer once the
restructuring process is completed.
The Board of Directors will therefore
immediately launch the search for a new Chief Executive
Officer.
Jean-Georges Malcor will complete the financial
restructuring process in the first quarter of 2018. He will then
step down as Chief Executive Officer when his successor is
appointed. Jean-Georges Malcor will remain in the company until his
retirement on October 1st, 2018 in order to support him/her in
taking office.
About CGG:
CGG (www.cgg.com) is a fully integrated
Geoscience company providing leading geological, geophysical and
reservoir capabilities to its broad base of customers primarily
from the global oil and gas industry. Through its three
complementary businesses of Equipment, Acquisition and Geology,
Geophysics & Reservoir (GGR), CGG brings value across all
aspects of natural resource exploration and exploitation. CGG
employs around 5,400 people around the world, all with a Passion
for Geoscience and working together to deliver the best solutions
to its customers.
CGG is listed on the Euronext Paris SA (ISIN:
0013181864) and the New York Stock Exchange (in the form of
American Depositary Shares. NYSE: CGG).
Contacts
Group
Communications Christophe BarniniTel: + 33 1 64 47 38
11E-Mail: : invrelparis@cgg.com |
Investor RelationsCatherine LeveauTel: +33 1 64 47 34
89E-mail: : invrelparis@cgg.com |
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