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BIC: CEO Bruno Bich to step down

(CercleFinance.com) - Hit by the consequences of the 2017 accounts published ahead of schedule on 31 January, and sanctioned by the market, this morning Bic announced the resignation of its Chairman and CEO, Bruno Bich, and the future separation of the group's two top positions.
Operational management will return shortly to the group's current number two, Gonzalve Bich.

The company that makes disposable products (pens, lighters, razors) this morning said that the board of directors, which met yesterday, took note of this decision taken in view of the age limit set by the company's articles. Mr Bich will also "give up" his mandate as a director at the AGM to be held on 16 May. It will then propose that the Board appoints Gonzalve Bich, who is currently deputy CEO and director of operations.

Remember that the Bich family remains the group's largest shareholder.

Then after the AGM, Bic's board of directors intends to separate the functions of chairman from CEO. The former position will be entrusted to the group's current Vice‐President of the Board and Lead Director, Pierre Vareille. The current Executive Vice‐President and Chief Operating Officer, Gonzalve Bich, will be nominated as CEO.

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