Jean-Pierre Savare Decides to Step Back from Daily Business Organization of Oberthur Technologies

Here is the memo posted by Jean-Pierre Savare, CEO and Chairman of Oberthur Technologies:I would like to inform you of my decision to slightly step back from the daily business organisation, while still focusing on the main strategic goals and on the future of our company in a particularly volatile economic environment. For this reason, I summoned the Board of Directors today after the General Assembly in order to propose: -- To split the functions of Chairman from those of Chief Executive Officer. -- To appoint Thomas Savare to the position of Chief Executive Officer. He has already informed me of his acceptance and of his wish to be assisted by two deputies : -- Michel AIME, Vice-Chairman of Oberthur Technologies in charge of Corporate Affairs and Finance. -- Philippe GEYRES, Managing Director, in charge of the complete operational side of Oberthur Technologies. (Card Systems, Fiduciary Printing, Oberthur Cash Protection). The Remuneration and Selection Committee support this proposal. To accompany this transition, we have planned to reunite the Group’s corporate services in one 4,500m2 building in Levallois, (a suburb near Paris). At the moment those services are spread over four different sites. You know of my attachment to this Group, which was founded in 1984, and today employs 6,000 persons throughout the world. As President, I will make sure that the equilibrium of the Group is preserved and that the Group will grow both organically and through external expansion.
Oberthur Technologies : 12/06/2008