ITALY: Lactalis veteran Guérin named Parmalat CEO
Lactalis has named company veteran Yves Guérin as CEO of new Italian acquisition Parmalat.
Guérin, who joined Lactalis in 1990, was appointed by the Parmalat board yesterday (12 July).
His appointment follows Lactalis's successful acquisition of Parmalat, a deal that was sealed on Friday.
The 46-year-old was most recently in charge of the production and distribution of milk at Lactalis as general manager of the French company's Lait Crèmerie and Nutrition division.
His 21-year career at Lactalis includes a stint in the US and a role integrating Spanish dairy firm Puleva, which the company acquired from Ebro Foods last year.
Guérin succeeds Enrico Bondi as Parmalat CEO, who left the Italian firm last month after Lactalis secured nine seats on the company's board at its AGM.
Lactalis, then Parmalat's largest shareholder with a 29% stake in the business, was able to nominate a slate of candidates for election to the board.
The company's success in securing seats on the board made it all but certain that it would not increase its EUR3.4bn (US$4.8bn) bid for the shares in Parmalat it did not already own.
Lactalis's EUR2.60-a-share bid expired on Friday, with investors representing 83.3% of Parmalat tendering their shares.
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