Illustration 60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 Kheng Ho To / Dreamstime
60886103 / Kheng Ho To / Dreamstime
60886103 / Kheng Ho To
Electricalmarketing 880 Rudy Provoost Rexel595

Provoost Out at Rexel in Governance Shakeup

June 24, 2016
Rudy Provoost, chairman and CEO of Rexel SA, Paris, was asked to stepped down from his roles at the company. Rexel’s board announced that it is splitting the CEO and chairman roles.
Rudy Provoost

Rudy Provoost, chairman and CEO of Rexel SA, Paris, was asked to stepped down from his roles at the company. Rexel’s board announced that it is splitting the CEO and chairman roles. Provoost will be succeeded as CEO on July 1 by company veteran Patrick Berard, who has been leading the company’s European operations for about the past year. Francois Henrot, previously deputy chairman and senior independent director, was appointed chairman on an interim basis. Ian Meakins, chief executive of Wolesley PLC, will join the board and becomes non-executive chairman starting Oct. 1. He has announced his retirement from Wolesley effective Aug. 31. Provoost, former head of Philips Lighting who joined Rexel in 2011, has been chairman and CEO since 2014.

The governance shakeup comes as activist investor Cevian Capital AB declared in February owning more than 5% of the company, Bloomberg reports.

Rexel announcement: Rexel adopts new governance structure and splits the roles of Chairman of the Board and Chief Executive Officer