Important Reorganization of Valeo to Enhance Profitability and Improve Efficiency

Valeo today announced an important change in its organizational structure in order to enhance profitability and improve the Group's efficiency given the growing globalization of its markets and customers. The new simplified structure, organized around four Business Groups and a strengthening of the role of the country organizations, is designed to accelerate the growth of the Group's product families in all of its markets and improve efficiency.

Four new Business Groups are created integrating the existing product families and the Domains.

Comfort and Detection Systems regroups the product families of Interior Controls and Security Systems as well as the Driving Assistance Domain organization. These product families relate to the driver's interface with his environment and the vehicle and contribute to enhanced comfort and safety. Christophe Perillat is appointed Vice-President of this Business Group in addition to his responsibility as VP of the Interior Controls product family.

Powertrain Systems regroups the Engine and Electrical Systems and Transmissions product families as well as the Powertrain Efficiency Domain organization. The product families in this Business Group are key for the reduction of energy consumption and CO2 emissions. Michael Schwenzer is appointed Vice-President for this Business Group in addition to his responsibility as VP of the Transmissions product family.

Thermal Systems regroups the Climate Control, Compressors and Engine Cooling product families as well as the Comfort Enhancement Domain organization. These product families contribute in particular to cabin comfort and the reduction of energy consumption. Alain Marmugi is appointed Vice-President for this Business Group in addition to his responsibility as VP of the Climate Control product family.

Visibility Systems regroups the Lighting Systems and Wiper Systems product families. This Business Group contributes to driver safety through a better visibility for the vehicle and the driver. Antoine Doutriaux is appointed Vice-President for this Business Group in addition to his responsibility as VP for the Wiper Systems product family.

"Valeo's organization in eleven Branches is no longer adapted to the globalization of our customers and our markets," said Jacques Aschenbroich, CEO of Valeo. "I am convinced that this new organization will enable the Group to better respond to the challenges of the automotive industry by identifying strong synergies and by managing more efficiently and in closer proximity to our customers in markets with high growth potential."

The role of the Business Group Vice-Presidents is to focus on product family profitability, to identify new business development opportunities and synergies within their organizations. The Business Group Vice-Presidents report to Luc Bleriot, Chief Operating Officer.

At the same time, the role of the National Directorates is being reinforced to ensure that the presence of the Group alongside national automakers is strengthened and to optimize organizational efficiency.

The Group's social partners will be informed and consulted as appropriate.

Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks among the world's top automotive suppliers. The Group has 122 plants, 61 R&D centers, 10 distribution platforms and employs around 49,000 people in 27 countries worldwide.