Nov. 5, 2002 -- The Board of ALSTOM has appointed Patrick Kron as Chief Executive Officer.
The Nov. 4 appointment will be effective from January 1, 2003. Pierre BILGER will remain Chairman of the Board until 31 December 2003, when Patrick Kron will also succeed him as Chairman.
Kron is 49 years old. A graduate of l'Ecole Polytechnique and of the Paris Ecole des Mines, he began his professional career in the Ministry of Industry between 1979 and 1984.
Between 1984 and 1998, Kron held a number operational responsibilities within the Pechiney Group and was Chairman of the Carbone Lorraine Company between 1993 and 1997. Since March 1998, he has been Chief Executive Officer of Imerys (formerly Imetal) and he has been a member of the Board of ALSTOM since July 2001.
Pierre BILGER commented:
"I am delighted to announce Patrick Kron's appointment as ALSTOM's Chief Executive Officer and future Chairman of the Board. Patrick's exceptional industrial, operational and international experience, combined with his practical knowledge of the financial markets, make him an ideal candidate to successfully meet the challenges ALSTOM faces today.
"This decision ensures continuity. As a member of the Board, Patrick has already acquired a detailed knowledge of ALSTOM and the twelve months I will spend at his side as Chairman of the Board will further help to ensure a smooth transition. It also ensures an orderly, planned succession during an important period in the company's development, when the benefits of the Restore Value program are beginning to flow.
"I am proud to have led ALSTOM for almost 12 years, during which time the company has grown from a modest Franco-British joint venture into a global group employing more than 112,000 people worldwide, and ranking among the top three in each of its four markets. I am confident that Patrick will make a significant contribution to the company's future success, both in the short term as we continue to deliver our Restore Value plan, and in the longer term as the Group continues its profitable growth".
For more information, visit www.power.alstom.com.