Patrick Blethon will become Saur's Executive Chairman as of January 7th, 2020

Saur announces today that Patrick Blethon will become Executive Chairman of the Group, as of January 7th, 2020.

Following an intermediary assessment of the progress made so far in implementing “Initiative 2023”, the Supervisory Board has decided to further accelerate its execution. Upon this decision, the Supervisory Board has identified Patrick Blethon, who has joined Saur group in September 2019 as Deputy Chief Executive Officer, as the most qualified candidate to take up the role of Executive Chairman of Saur.

Patrick Blethon spent most of his career with United Technologies corporation, especially with Otis where he held various large corporate roles and P&L responsibilities around the globe. He started in the French entity of Otis before moving to Russia and CIS. He has been then appointed Global Business and Strategy Vice President based in the US, before serving as Asia President based in Singapore, then EMEA President from 2015 to mid 2019. In this role, Patrick managed the transfer of the European Otis Headquarters to France in close cooperation with the French Ministry of the Economy at the end of 2018.

The Supervisory Board would like to thank Louis-Roch Burgard for his dedication and strong contribution to the Group’s development during his tenure. He, together with the management team, has demonstrated a strong commitment to support Saur’s success.

The Supervisory Board reaffirms its full support for the Group’s “Initiative 2023” strategic plan under which the Group aims to boost its annual revenue by €700 million in order to reach €2 billion of annual revenue by 2023