PARIS--(BUSINESS WIRE)--Regulatory News:
ESI Group, Paris, France, (ISIN Code: FR0004110310, Symbol: ESI) a global player in virtual prototyping software and services for industry, announces that its Board of Directors appointed on October 21, 2020, Alex Davern as Independent Observer in accordance with the recommendations of its Nomination & Governance Committee.
This decision was taken following the Extraordinary Shareholders’ Meeting held the same day, which approved the amendment to the Company’s articles of association to create the function of Observer. This function could also be used to organize a transition to onboard and offboard individual board members.
To allow Alex Davern to perform his mission of advisor, he will be invited to participate to the Board of Directors’ meetings and its committees, without voting rights. He will bring his expertise and vision in order to assist the Company in finding a right balance between long-term vision with short-term business needs and in creating value for customers, employees, partners, and shareholders.
Alain de Rouvray commented: “I am delighted to welcome Alex Davern to ESI Group Board as an independent Observer. Former CEO of National Instruments, Alex has an in-depth knowledge of both our industry context and of the management of a listed mid-size global company. His experience as a member of the Board and chairman of Audit Committee of various companies will be highly valuable to us. Furthermore, his dual citizenship (US and Irish) represents a good asset for an international company like ESI Group.”
Alex Davern served National Instruments (NATI: NASDAQ), global leader in automated test and automated measurement systems for 26 years in different top management positions from Chief Financial Officer, Chief Operating Officer to Chief Executive Officer. Alex Davern contributed to the company's development until it reached approximately $1.4 billion in sales with 7,400 people spread in 50 countries today. Alex Davern assisted the founder of National Instruments for 20 years. Alex has recently stepped down from his role as CEO to focus on serving as a board member of National Instruments and other Nasdaq-listed companies (Cirrus Logic, and previously Helen of Troy, Sigmatel Inc.). He is a former President of the American Electronics Association committee on Sarbanes-Oxley and a former member of the SEC's Small Business Advisory Committee. Alex started his career as auditor in Price Waterhouse Coopers. He Graduated from the University College Dublin with a degree in Commerce and a post graduate Diploma in Professional Accounting.
Q3 2020 Sales
October 27, 2020
About ESI Group
Founded in 1973, ESI Group is a leading innovator in Virtual Prototyping solutions and a global enabler of industrial transformation. Thanks to the company’s unique know-how in the physics of materials, it has developed and refined, over the last 45 years, advanced simulation capabilities. Having identified gaps in the traditional approach to Product Lifecycle Management (PLM), ESI has introduced a holistic methodology centered on industrial productivity and product performance throughout its entire lifecycle, i.e. Product Performance Lifecycle™, from engineering to manufacturing and in operation. Present in more than 20 countries, and in major industrial sectors, ESI employs 1200 high level specialists around the world and reported 2019 sales of €146 million. ESI is headquartered in France and is listed on compartment B of Euronext Paris.
For further information, go to www.esi-group.com.