IVRY-SUR-SEINE--(BUSINESS WIRE)--Regulatory News:
BALYO (Paris:BALYO) (FR0013258399, Ticker: BALYO, eligible for PEA-PME savings schemes), a technological leader in the design and development of innovative robotic solutions for material handling trucks, announces a change in its governance.
The appointment of Pascal Rialland, previously the Company’s Deputy CEO, has been approved by the board of directors and will be effective as of January 1, 2020.
A graduate from ENSAT, Pascal, 44, specialized in marketing at McGill University, Montréal. He also holds an EMBA degree from both Tsinghua University, Beijing and INSEAD, Singapore. He has over 20 years of experience, holding senior executive positions in engineering and automation companies in Germany, France, UK, USA, Ireland and China.
Pascal’s appointment follows his strategic and operational involvement since the company’s IPO. His main mission will focus towards commercial acceleration of BALYO’s solutions and operational excellence.
BALYO’s Board of Directors would like to welcome Pascal Rialland and sincerely thank Fabien Bardinet for his commitment and his key contribution to BALYO’s transformation. Fabien has accompanied the Company’s development from its first commercial successes to its industrialization phase. During his mandate, numerous milestones have been reached. Notably the structuring of the teams, the industrialization of products and more generally a solid growth of the business in a constantly evolving market.
Fabien Bardinet, Chairman and Chief Executive Officer of BALYO since 2013, is leaving the Company’s operational management at the end of the year to join Airbus as Head of Robotics. He will remain Chairman of BALYO’s Board of Directors until the summer of 2020 in order to ensure a smooth transition.
Pascal Rialland, comments: “Balyo has a unique technological leadership and a global market and product coverage. This position is acknowledged by leading international blue-chip organizations to address the material handling industry transformation towards autonomy. I am honored to count on the relentless commitment of our teams and determined to accelerate the commercial deployment of our products and services and concurrently transition our design and operational execution towards excellence”.
Fabien Bardinet concludes: “Heading BALYO’s teams for the last six years has been an honor and a thrilling experience. The unwavering commitment and boundless enthusiasm of the BALYO team has enabled me to elevate the Company to one of the leading players in this sector. Pascal, who has accompanied me for a number of years, has fully contributed to our development through his industrial and commercial expertise that has provided BALYO with decisive assets for the coming years”.
Balyo transforms standard forklift trucks into standalone intelligent robots thanks to its breakthrough proprietary Driven by Balyo™ technology. The geoguidance navigation system developed by Balyo allows vehicles equipped with the system to locate their position and navigate autonomously inside buildings. Within the automated handling vehicle market, Balyo has entered into two strategic agreements with Kion Group AG (Linde Material Handling's parent company) and Hyster-Yale Group, two major operators in the material handling sector. Balyo is present in three major geographic regions (Americas, Europe and Asia-Pacific). Its sales revenue reached €23.3 million in 2018. For more information, please visit our website at www.balyo.com.