Air Liquide’s Board of Directors, chaired by Benoît Potier, met on November 30, 2021. Following the recommendations of the Appointments and Governance Committee, the Board reviewed the Group’s leadership succession plan and unanimously approved the principle of a new form of governance. In this context, when the Board meets at the close of the 2022 Shareholders General Meeting, it will be asked to renew Benoît Potier’s term of office as Chairman of the Board of Directors and to appoint François Jackow to succeed him as Chief Executive Officer with effect from June 1, 2022.
On the recommendation of the Appointments and Governance Committee chaired by Jean-Paul Agon, the Lead Director, the Board of Directors announced its intention to appoint François Jackow as Chief Executive Officer, taking over from Benoît Potier whose term of office as Board Director will be submitted for renewal at the General Meeting of shareholders to be held in May 2022. The General Meeting will also be asked to appoint François Jackow as Board Director.
This succession plan includes a new form of governance separating the roles of Chairman of the Board of Directors and of Chief Executive Officer. In this context, the Board announces its intention to renew Benoît Potier’s term of office as Chairman of the Board of Directors.
Jean-Paul Agon, Chairman of the Appointments and Governance Committee, stated:
“Our committee has been working on Benoît Potier’s succession plan and the future governance of Air Liquide for over two years. Several high quality candidates were considered. François Jackow’s level of experience, skills and personal qualities were assessed by the Board as being particularly in line with the Group’s performance and development strategy. His appointment was recommended to the Board of Directors with Benoît Potier’s full agreement”.
François Jackow joined Air Liquide in 1993. After a wide-ranging, international career, François Jackow has the benefit of his extensive experience of the Group, combining strategic vision and knowledge of its business lines. A member of the Executive Committee as Executive Vice President, François Jackow notably in charge of Europe Industries, Healthcare in Europe and Africa Middle East & India. The Global Healthcare activity, the Innovation, Technologies, Digital and IT functions are also under his supervision as well as Customer orientation strategy.
The Board of Directors also expressed its conviction that a new form of governance is appropriate, within the framework of this succession, separating the offices of Chairman and Chief Executive Officer. It welcomed the fact that the Group will retain the benefit of Benoît Potier’s successful experience in the two roles and of his commitment to the values of the Air Liquide Group which he has managed for 20 years and chaired for 15 years.
The Board of Directors would like to take this opportunity to express its warmest thanks to Benoît Potier for the fundamental transformation of the Group which has more than doubled in size, under his leadership, whilst its capitalization has increased fivefold. In addition to Air Liquide’s international expansion, the Board wishes to highlight its position at the forefront of the markets of the future – healthcare, digital and, more recently, energy transition, with hydrogen in particular – placing the company in a very favorable position to face the challenges of the coming decades.
Benoît Potier, Chairman and Chief Executive Officer of the Air Liquide group, stated:
“I am delighted by the future appointment of François Jackow as Chief Executive Officer. The selection process has been exemplary. François Jackow is someone I know very well. His professional and human qualities are appreciated by all. His experience in the field, his strategic vision and leadership are paired with a firm commitment to the Group’s values. We have a long history of working well together. He has my full trust, as well as that of the Board. With this change of governance, which combines continuity and renewal, the Group is starting a new chapter in its history which coincides with the launch of our new strategic plan to be presented in March 2022. For my part, I am looking forward to continuing to fully contribute to the success of the Air Liquide group, as Chairman.”
By: Air Liquide, Press Release
Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.
The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.