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    SOI   FR0013227113

SOITEC

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Soitec says succession plan has 'full support' of main shareholders

01/21/2022 | 02:50am EDT

Jan 21 (Reuters) - Soitec's plan to appoint a new CEO has the "full support" of its main shareholders, the French semiconductor company said on Friday, after the company's executive committee questioned the decision.

Following Pierre Barnabé's appointment as CEO on Wednesday, the executive committee sent a letter to the board of directors, seen by Reuters, describing the move as "incomprehensible" given the progress made by current CEO Paul Boudre.

"The chosen successor of Paul Boudre, Pierre Barnabé, has the necessary skills and experience to lead Soitec as Chief Executive Officer for the next phase of growth towards our ambitious objectives," the group responded in a press release.

Barnabé, who is senior EVP, Group Security Officer and Global Head of Big Data and Cybersecurity at Atos, is due to join the company on May 1 and take over as CEO at the end of the July 2022 shareholders' meeting.

Shares in Soitec slumped around 17% on Thursday, their worst day since December 2014.

Soitec's four main shareholders, each with stakes of about 10%, are National Silicon Industry Group, Bpifrance, BlackRock Financial Management and CEA Investment, according to Refinitiv data. (Reporting by Kate Entringer in Gdansk Editing by Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ATOS SE 0.24% 24.94 Real-time Quote.-33.30%
BLACKROCK, INC. 2.16% 666.53 Delayed Quote.-27.20%
NATIONAL SILICON INDUSTRY GROUP CO., LTD. -4.59% 21.4 End-of-day quote.-17.12%
SOITEC 2.38% 172 Real-time Quote.-20.07%
All news about SOITEC
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04/28TRANSCRIPT : Soitec S.A., Q4 2022 Sales/ Trading Statement Call, Apr 28, 2022
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04/27Soitec reports fy'22 fourth quarter revenue
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04/27Soitec reports fy'22 fourth quarter revenue
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04/27Soitec Announces CEO Changes
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04/27Soitec Provides Revenue Guidance for the Fiscal Year 2023
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04/27Soitec Reports Unaudited Consolidated Revenues Results for the Fourth Quarter and Full ..
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04/27SOITEC : 4th quarter earnings
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Analyst Recommendations on SOITEC
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Financials
Sales 2022 830 M 889 M 889 M
Net income 2022 165 M 177 M 177 M
Net cash 2022 23,6 M 25,3 M 25,3 M
P/E ratio 2022 34,8x
Yield 2022 -
Capitalization 6 002 M 6 430 M 6 430 M
EV / Sales 2022 7,20x
EV / Sales 2023 5,54x
Nbr of Employees 1 582
Free-Float 84,9%
Chart SOITEC
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Soitec Technical Analysis Chart | SOI | FR0013227113 | MarketScreener
Technical analysis trends SOITEC
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 172,00 €
Average target price 242,80 €
Spread / Average Target 41,2%
EPS Revisions
Managers and Directors
Paul Boudre Chief Executive Officer & Director
Léa Alzingre Chief Financial Officer
Eric Meurice Chairman
Ionut Radu Manager-Research & Development
Bernard Aspar Chief Operations Officer & Head-Global Business
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