* Christian Reinaudo appointed as President Agfa HealthCare
* Albert Follens appointed as Vice-President of the Agfa-Gevaert
Group
* Operational improvement first priority
* Board committed to phased demerger
Mortsel (Belgium) - As a result of the Board meeting earlier today,
the Board of Directors of Agfa-Gevaert announced its decisions
related to appointments in the Executive Committee and to the
operational improvement and the demerger plans of the company.
The Board has appointed Christian Reinaudo as President of the Agfa
HealthCare business group and as member of the Executive Committee,
effective January 1, 2008. Christian Reinaudo is 53 years old and of
French nationality. He is a graduate from the 'Ecole de Physique et
de Chimie Industrielles de Paris' and holds a doctorate from the
University of Paris (France). He started his career with Alcatel in
1978. During this period, he has managed worldwide multi-billion Euro
businesses and international sales and services organizations. Most
recently he was Area President Europe and North for Alcatel - Lucent
and responsible for managing the integration and transition process
associated with the merger with Lucent Technologies.
The Board fully supports the work of the management on operational
improvement and has therefore appointed Albert Follens as
Vice-President of the Executive Committee of the Agfa-Gevaert Group.
In this role, he will support Jo Cornu, CEO, in restoring the
company's operational performance. Related to this, the company is on
track for realizing its objective of a net debt reduction of 75 to
100 million Euro in the fourth quarter.
Furthermore, the Board of Directors confirms it commitment to the
demerger in three independent companies as this is the best way to
create shareholder value. A phased demerger is expected to take place
in the course of 2008. At the same time, the Board also asked Jo
Cornu, CEO, to actively look into the expressions of interest that
the company recently received.
Contact:
Agfa-Gevaert
Johan Jacobs
Corporate Press Relations Manager
tel. ++32 (0)3/444.8015
e-mail: johan.jacobs@agfa.com
Katia Waegemans
Director Corporate Communication
tel. ++32 (0)3/444.7124
fax. ++32 (0)3/444.7485
e-mail: katia.waegemans@agfa.com
