Coface announces appointment of Xavier Durand as CEO
Xavier Durand.
Jean-Marc Pillu.
Coface, the international credit insurer, has appointed Xavier Durand as chief executive officer, effective 9 February. Jean-Marc Pillu will continue in his role as Coface CEO until this date.
“Jean-Marc Pillu has led Coface over the last five years with great commitment and focus on results. In particular. Since 2011 he has given Coface new impetus, with a development strategy recentred on its core credit insurance business. Based on the significant improvement in results generated as a consequence, he implemented the successful IPO of around 60% of the group’s capital, and negotiated the organisation of the transfer of the public guarantees activity to the French Public Investment Bank (Bpifrance),” said Coface.
“Coface is now well-positioned by these successes and the benefits gained during this transformation phase, placing the company in a strong position to ensure its future development over the long-term.”
Coface said in the context marked by the implementation of Solvency II, Mr Durand will reinforce commercial activity, and propose and implement the necessary structural adaptations further enhance the group’s operational efficiency while preserving its risk profile in an uncertain global economic environment.
Laurent Mignon, chairman of the board of Coface, said: “I take this opportunity to thank Jean-Marc Pillu for his commitment and the work that he has led for the last five years to deeply transform Coface. due to his action and engagement of its teams, Coface’s business has been rebalanced and a growth dynamic successfully established, strengthening the group’s future prospects and ability to meet its objectives.”
“The new phase which is now beginning will allow Coface, under the leadership of Mr Durand, to continue to build, over time, one of the world’s leading credit-insurance companies,” he said.
