MONTRÉAL, Nov. 11, 2019 /CNW
Telbec/ - Velan Inc. (TSX: VLN) announced today the
appointment of Bruno Carbonaro as
President of Velan Inc. effective November
11, 2019. Based in Montreal,
Canada, Bruno Carbonaro will
report to Yves Leduc, Chief
Executive Officer of the Corporation and be a member of the
Executive Management Committee.
As President of Velan, Bruno
Carbonaro will have full profit and loss (P&L)
responsibility for Velan's business units, except for the company's
French Operations, which will continue to report to the CEO.
Yves Leduc, Chief Executive Officer
of Velan Inc., in addition to his role in developing the worldwide
corporate strategy, will now be able to dedicate his time to
overseeing the global transformation efforts, launched with the V20
plan, as well as promoting an innovation agenda to Velan's
customers.
"We are very pleased to welcome Bruno
Carbonaro as President of Velan Inc in the midst of our V20
transformation, at a time where our company has already begun to
make significant changes in line with our strategic goals,
including our reorganization into business units, our optimization
and specialization of our manufacturing operations and the
modernization of our systems and processes," said Yves Leduc. "Bruno
Carbonaro has an impressive track record in international
industry in strategy, business development and executive
responsibility in global enterprises. His ability and his proven
track record in leadership will be key assets during this critical
phase of the company's history. His experience, his energy and his
customer orientation will add to the acceleration of a
transformation already well underway."
Mr. Carbonaro, an engineer by training, brings more than 20
years of experience in the industrial equipment industry, spending
the last eight years at Groupe Fives, a global engineering firm
that supplies industrial equipment to numerous industries,
including Steel, Aluminium, Logistics, Automotive, Aerospace and
Defence and Energy, most recently as a member of the executive
committee and Director of the company's Automobile division, with
P&L responsibility for a global division composed of three
business units, 1700 employees and just under €400 million in
annual sales. Previously at Groupe Fives, he held the position of
Director of Groupe Fives Nordon, one of the company's subsidiaries.
Between 2002 and 2010, he held executive positions with Groupe
Vallourec (2008 – 2009) as Director General of OCTG Europe and
Groupe Legris Industries (2002-2008), where he worked in varied
functions as a leader of business development, marketing, strategy
execution and operations. He started his career in the automotive
industry and at the Boston Consulting Group's Paris office. He received his Engineering
education at Ecole Polytechnique in Paris, France.
Mr. Carbonaro stated, "I am very proud to join the ranks of
Velan, a company founded close to seventy years ago in Montreal, having become a global leader, a
brand reputed worldwide for its quality product, its
entrepreneurial culture, and the knowhow of its employees. I see
that the company is positioning itself for further growth and I
look forward to working with the team and contributing to its
future success. Finally, I wish to thank Yves Leduc, the Velan Family and the Board for
entrusting me with this responsibility."
About Velan
Founded in Montreal in 1950,
Velan Inc. (www.velan.com) is one of the world's leading
manufacturers of industrial valves, with sales of US$338 million in its last reported fiscal year.
The Company employs over 1,800 people and has manufacturing plants
in 9 countries. Velan Inc. is a public company with its shares
listed on the Toronto Stock Exchange under the symbol VLN.
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factors that it believes are reasonable and appropriate in the
circumstances, no forward-looking statement can be guaranteed, and
actual future results may differ materially from those expressed
herein. The Company disclaims any intention or obligation to update
or revise any forward-looking statements contained herein whether
as a result of new information, future events or otherwise, except
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by this cautionary statement.
SOURCE Velan Inc.