Tereos accelerates its transformation

Gwenaël Eliès appointed interim Chairman of the Management Board

At its meeting of February 7, 2022, the Tereos SCA Supervisory Board unanimously decided to accelerate the Group’s transformation initiated in December 2020, which is based on three areas of value creation: Managerial Excellence, Commercial Excellence, and Industrial Excellence. 

Over the past 12 months and under the impetus of Philippe de Raynal, Tereos has implemented a new strategy which has resolutely engaged the Group on the path of financial recovery. The phase that is now beginning aims to deliver the operational priorities expected in the short and medium term thanks to a more agile and targeted execution. 

As such, the Supervisory Board entrusts the interim chairmanship of the Management Board to Gwenaël Eliès, replacing Philippe de Raynal, who is leaving the company. Pending the arrival of a new manager, Gwenaël Eliès will continue to perform his duties as Group Chief Financial Officer. 

Gérard Clay, Chairman of the Supervisory Board, said: “With the support of Gwenaël Elies, Philippe de Raynal has initiated an ambitious roadmap designed to restore Tereos’ profitability, engage its debt reduction and strengthen its commercial positions. Much remains to be done to restore Tereos to its rightful place, and the next Chairman of the Management Board will have the task of enhancing this dynamic.”