Meeting in council on Wednesday, the holding company voted in advance for the renewal of its chairman and management board, André François-Poncet, weakened by the sharp drop in Wendel’s price since his arrival. He promises an “offensive” mandate.
Criticized at the heart of its family nucleus, the management of Wendel is united. The supervisory board of the three-hundred-year-old holding company voted on Wednesday to renew for four years its chairman of the management board, André François-Poncet, despite the sharp decline in the price (down 31% since his arrival against an increase of 5.6% for the CAC 40), the downsizing of the portfolio, and the fact that only one acquisition was made in three years, and at a high price. Choices that sowed doubt among some heirs of the shareholder family, especially in the circle of the former strongman of the holding company, Ernest-Antoine Seillière, as reported in the “Journal du Dimanche”, and brought into the business. German activist Active Ownership Corporation arena.