SYSTRA Group completed the first stage of its restructuring on June 30 with the incorporation of the holding company, Financière SYSTRA into SYSTRA SA, and the transfer of control of XELIS and INEXIA from the RATP and SNCF. SYSTRA's governance has also changed with the creation of supervisory and executive boards.
SYSTRA shareholders met on June 30 to appoint a new supervisory board under agreements established with the RATP/SNCF: Pierre Mongin was appointed chairman of the board and Guillaume Pepy, vice president. In addition, the RATP will be represented by Alain Le Duc and Jean-Marc Janaillac, with Pierre Izard and Dominique Thillaud for the SNCF. Henri d'Ambrières (Crédit Agricole) and Alain Grandel (BNP) will represent the investment banks with stakes in SYSTRA. The board will also include two non-executive directors, Alain Frybourg (Natixis) and Jean de la Raudière (Société Générale) and two independent directors, Pascal Poirot and Micheline Bossaert.
SYSTRA employees elected three Directors.
The group is now entering a transition phase during which all three entities must produce an integration plan for approval by the shareholders. During this phase, the three entities will remain commercially independent, in particular when it comes to maintaining their commitment to existing tenders – clients must be confident that a Chinese wall exists wherever there is a potential conflict of interest.
