2007
31.08.2007, SAFRAN
Announcement by the Supervisory Board
PRESS RELEASE
Paris, August 31, 2007
Meeting on August 30, the SAFRAN Supervisory Board discussed the conditions for the departure of Jean-Paul Béchat, whose term as Chief Executive Officer will end on September 2, 2007.
The Board applied the measures provided for in this case, which it had approved on March 18, 2005.
Mr. Béchat will therefore receive an indemnity equal to two years of his annual remuneration.
The Board also noted the retirement of Jean-Paul Béchat on the same date, and the Group’s implementation, within this scope, of the applicable provisions.
Given Jean-Paul Béchat’s uncontested expertise and the experience built up during his 42 years at the service of the Group, he will be appointed as a member of the Supervisory Board as soon as there is a vacancy.
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About SAFRAN
SAFRAN is an international high-technology group with four core businesses: Aerospace Propulsion, Aircraft Equipment, Defense Security, and Communications. It has 62,000 employees in over 30 countries, and annual revenues exceeding 11 billion euros. The SAFRAN Group comprises a number of companies with prestigious brand names, and holds, alone or in partnership, global or European leadership positions in all of its markets.
SAFRAN CONTACT
SAFRAN | Direction de la Communication | 2, bd du Général Martial Valin | 75724 Paris Cedex 15 – France Contact Press | Jocelyne TERRIEN | Tél +33 (0)1 40 60 80 28 | Fax +33 (0)1 40 60 80 26 | jocelyne.terrien@safran.fr
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