Vallourec Management

Management criteria checks 1/4

Vallourec's CEO is Philippe Guillemot, appointed in Mar 2022, has a tenure of 2.08 years. total yearly compensation is €12.32M, comprised of 8.1% salary and 91.9% bonuses, including company stock and options. directly owns 0.2% of the company’s shares, worth €7.67M. The average tenure of the management team and the board of directors is 1.5 years and 2.9 years respectively.

Key information

Philippe Guillemot

Chief executive officer

€12.3m

Total compensation

CEO salary percentage	8.1%
CEO tenure	2.1yrs
CEO ownership	0.2%
Management average tenure	1.5yrs
Board average tenure	2.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Philippe Guillemot's remuneration changed compared to Vallourec's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	€12m	€1m	€496m
Sep 30 2023	n/a	n/a	€469m
Jun 30 2023	n/a	n/a	€399m
Mar 31 2023	n/a	n/a	-€175m
Dec 31 2022	€15m	€783k	-€366m

Compensation vs Market: Philippe's total compensation ($USD13.21M) is above average for companies of similar size in the UK market ($USD2.58M).

Compensation vs Earnings: Philippe's compensation has been consistent with company performance over the past year.

CEO

Philippe Guillemot (64 yo)

2.1yrs

Tenure

€12,320,288

Compensation

Mr. Philippe Guillemot serves as Group Chairman at Vallourec S.A. since April 2023 served as its Chairman since March 20, 2022 until April 2023 and serves as its Chief Executive Officer since March 20, 202...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Philippe Guillemot	Group Chairman & CEO	2.1yrs	€12.32m	0.20% € 7.7m
Sascha Bibert	Group Chief Financial Officer	2yrs	no data	no data
Valeria Fernandes	Chief Digital & Information Officer	less than a year	no data	no data
Connor Lynagh	Investor Relations Director	no data	no data	no data
Marie Dib	Group General Counsel	less than a year	no data	no data
Damien Rebourg	Senior Vice President of Communication & Public Affairs	less than a year	no data	no data
Ludovic Oster	Group Chief Human Resources Officer	1.8yrs	no data	no data
Philippe Carlier	Senior Vice President Industry of Group & Eastern Hemisphere.	no data	no data	no data
Bertrand Frischmann	COO of the Americas & Acting Senior VP of the South America Region	less than a year	no data	no data
Ulrika Wising	Senior Vice President of Energy Transition	2.3yrs	no data	no data
Enrico Schiappacasse	Senior Vice President of Group Strategy & Development	1.8yrs	no data	no data
Laurent Dubedout	Senior Vice-President of OCTG Services & Accessories Business Line	1.3yrs	no data	no data

1.5yrs

Average Tenure

48yo

Average Age

Experienced Management: 0NR2's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Philippe Guillemot	Group Chairman & CEO	2.1yrs	€12.32m	0.20% € 7.7m
Pierre Vareille	Independent Vice-Chairman of the Board & Lead Independent Director	3yrs	€203.00k	0.030% € 1.2m
Jean-Paul Parayre	Honorary Chairman	10.9yrs	no data	no data
Arnaud Leenhardt	Honorary Chairman	23.8yrs	no data	no data
Cédric de Bailliencourt	Member of Supervisory Board	13.3yrs	€5.00k	no data
Gareth Turner	Non-Independent Director	3yrs	no data	0.00022% € 8.4k
Angela Minas	Independent Director	2.8yrs	€174.00k	0.0060% € 229.1k
Hera Siu	Independent Director	2.8yrs	€124.50k	0.00022% € 8.4k
Luciano Pires	Independent Director	less than a year	€21.50k	no data
Corine de Bilbao	Independent Director	3.3yrs	€116.00k	0.00057% € 21.7k
Austin Anton	Observer	2.8yrs	no data	no data
Patrick Poulin	Non-Independent Employee Representative Director	1.1yrs	€48.50k	0.0017% € 66.2k

2.9yrs

Average Tenure

59yo

Average Age

Experienced Board: 0NR2's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.

Vallourec Management

Management criteria checks 1/4

Key information

Recent management updates

Vallourec S.A. Announces Executive Changes

Vallourec Appoints Luciano Siani as a Member of Board of Directors, Member of the Audit Committee and of the Corporate Social Responsibility Committee

Vallourec S.A. Announces Executive Changes

Vallourec S.A., Annual General Meeting, May 23, 2024

High number of new and inexperienced directors

High number of new and inexperienced directors

Recent updates

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: €2.17 (vs €1.60 loss in FY 2022)

Vallourec S.A. to Report Q2, 2024 Results on Jul 16, 2024

Vallourec S.A. Announces Executive Changes

New minor risk - Earnings quality

Third quarter 2023 earnings released: EPS: €0.33 (vs €0.03 in 3Q 2022)

Vallourec S.A. to Report Q1, 2024 Results on May 16, 2024

Vallourec Appoints Luciano Siani as a Member of Board of Directors, Member of the Audit Committee and of the Corporate Social Responsibility Committee

Vallourec S.A. (ENXTPA:VK) agreed to acquire an unknown stake in 837-MWp Futura I Solar Complex from Eneva S.A. (BOVESPA:ENEV3).

Vallourec S.A. Announces Executive Changes

New major risk - Financial position

Vallourec S.A. Provides Production Guidance for the Second Half or 2023

Second quarter 2023 earnings released: EPS: €0.013 (vs €1.80 loss in 2Q 2022)

Vallourec S.A., Annual General Meeting, May 23, 2024

Vallourec S.A. to Report Q2, 2023 Results on Jul 28, 2023

Full year 2022 earnings released: €1.60 loss per share (vs €0.33 profit in FY 2021)

Full year 2022 earnings released: €1.60 loss per share (vs €0.33 profit in FY 2021)

Vallourec S.A. to Report Q4, 2022 Results on Mar 02, 2023

Now 21% undervalued

Third quarter 2022 earnings released: EPS: €0.03 (vs €0.03 loss in 3Q 2021)

High number of new and inexperienced directors

High number of new and inexperienced directors

Vallourec S.A. Provides Production Guidance for the Full Year 2022

Vallourec Appoints Pierre d'Archemont as Senior Vice President South America, Effective 14 July 2022

Vallourec S.A. Announces Executive Changes

Vallourec S.A. Appoints Enrico Schiappacasse as Senior Vice President Strategy and Development of Vallourec and Joins the Executive Committee

Vallourec S.A. to Report Q3, 2022 Results on Nov 21, 2022

Vallourec S.A. to Report Q2, 2022 Results on Jul 27, 2022

Vallourec Restarts Operations Partially At Its Iron Ore Mine

High number of new and inexperienced directors

Full year 2021 earnings released: EPS: €0.33 (vs €105 loss in FY 2020)

Vallourec Announces CFO Changes

Vallourec S.A. Appoints Philippe Guillemot Is Replacing Edouard Guinotte as Chief Executive Officer

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Vallourec S.A. to Report Q1, 2022 Results on May 18, 2022

Forecast breakeven date pushed back to 2022

Third quarter 2021 earnings released: €0.03 loss per share (vs €6.00 loss in 3Q 2020)

Forecast to breakeven in 2022

Second quarter 2021 earnings released: EPS €3.70 (vs €43.12 loss in 2Q 2020)

Forecast to breakeven in 2022

Framatome acquired Valinox Nucleaire S.A.S. from Vallourec S.A. (ENXTPA:VK).

First quarter 2021 earnings released: €8.20 loss per share (vs €8.00 loss in 1Q 2020)

Full year 2020 earnings released: €105 loss per share (vs €29.51 loss in FY 2019)

Revenue misses expectations

Vallourec S.A., Annual General Meeting, Apr 20, 2021

New 90-day high: €31.84

Vallourec S.A. (ENXTPA:VK) agreed to acquire an additional 15% stake in Vallourec Soluções Tubulares do Brasil S.A. from Nippon Steel Corporation (TSE:5401).

New 90-day high: €31.30

New 90-day high: €29.03

Revenue misses expectations

Third quarter 2020 earnings released: €6.00 loss per share

New 90-day low: €14.96

New 90-day low - €18.48

New 90-day low - €26.22

Vallourec S.A. to Report Q3, 2020 Results on Nov 18, 2020

Vallourec S.A. to Report First Half, 2020 Results on Jul 29, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age