ICAPE GROUP Announces the Strengthening of Its Governance

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ICAPE Group, a global technology distributor of printed circuit boards (PCB), announced the evolution of its governance.

In agreement with the Board of Directors, Cyril Calvignac, ICAPE Group’s Chief Executive Officer, today submitted his resignation from his position as Chief Executive Officer and Board member. Yann Duigou, the Group's current Chief Marketing Officer, will succeed him as Chief Executive Officer. Before pursuing a new professional project, and in the interests of good governance, Cyril Calvignac will continue to support the Group until the end of 2023 to ensure this transition.

Yann Duigou, aged of 61, current Chief Marketing Officer and Board member, brings over thirty years' experience in the electronics and PCB industry. Before joining the ICAPE Group in 2017 as Director in charge of e-commerce, he held various executive positions within the CIRE electronics group. He was notably Factory Director and then Managing Director for ten years, from 2002 to 2012. Yann Duigou is a graduate of the Institut Supérieur de Gestion (ISG Paris).

The Board of Directors warmly thanks Cyril Calvignac for his vision, commitment and action at the service of the Group since 2003, for which he notably led the IPO to a successful conclusion, and wishes him every success in his future projects.

In addition, the Board of Directors decided to strengthen the Group’s Executive Management with the appointment of two new Deputy CEO, namely Arnaud Le Coguic, who becomes Chief Financial Officer of the Group, and Bingling Li Sellam, who replaces Yann Duigou as Chief Marketing Officer. Shora Rokni sees her scope extended as Chief Strategy and M&A Officer. ICAPE Group's Executive Management is thus composed of a Chief Executive Officer, supported by five Deputy CEO.

The Group's Board of Directors also evolved with the appointment by cooptation of Mr. Thomas Chea as Board member, replacing Mr. Calvignac. This appointment will be subject to ratification by the next Annual General Meeting. Arthur Mendes and Bingling Li Sellam also join the Group's Board of Directors as censors for a 3-year term.

Thierry BALLENGHIEN, ICAPE Group’s Founder and Chairman of the Board of Directors, stated: “I would like to offer my warmest thanks to Cyril Calvignac for the commitment he has demonstrated daily since joining our Group. Over the past 20 years, he climbed the Group's ladder by my side, one by one, and supported its structuring at the highest level, with its IPO as a major achievement. Yann has my full confidence to pursue the ambitious objectives we set ourselves within the framework of our IPO, and I am sure that his experience and expertise will be major assets to reinforce our trajectory of strong profitable growth. The experienced management team currently in place, composed of experts in the PCB industry, also has my full confidence to successfully lead the Group's future development.”

Yann DUIGOU, ICAPE Group’s Chief Marketing Officer, added: “I am particularly proud of the opportunity given to me today to become Chief Executive Officer, and I would like to warmly thank Thierry Ballenghien for the confidence he placed in me. Thanks to our many assets and the strengthening of our governance, I am convinced that the offensive strategy we are deploying today will consolidate our position as a key player in printed circuit board distribution.”