Posted 25 Feb. 2022 at 17:39Updated Feb 25. 2022 at 06:14 PM
Christophe Périllat will no doubt remember his baptism of fire for a long time. A month just after taking office, the new CEO of Valeo presented his strategic plan for 2025 for the automotive supplier, in front of a full house and under the watchful eye of Jacques Aschenbroich, his predecessor who remained president. Despite the uncertainties linked to the war in Ukraine. “I hesitated, but I finally decided to maintain the meeting, because the long-term vision of Valeo will not change because of this crisis”, he indicated, specifying that Valeo realizes less than 1% of its sales in Russia.
His presentation, which also included the publication of 2021 results, clearly did not convince the markets. The stock market fell 14% during the day, to 20.4 euros, to end the session at -10.5%, in a market up 3.6%. “Investors were disappointed with the 2022 objectives, and in particular on cash generation. But the expected medium-term profitability also seems conservative,” says a financial analyst.