By Paul Loubière the 27..2022 at 16h21 Playback 5 min. Subscribers
Soitec announces record results but struggles to reassure the markets. The brutal replacement of Paul Boudre was sanctioned by the markets. The company wants to ease the crisis. The State, maneuvering in the succession, also wishes to prevent any foreign takeover.
Soitec announces record results and tries to ease the governance crisis.
The outgoing boss of Soitec, one of the rare French stars in the semi -drivers, promised a “smooth transition” with his successor, after a serious governance crisis that rocked the company and sent the stock plummeting by more than 21%. “With the management committee, I will of course do everything in my power to ensure a smooth transition” with the future general manager, indicated Paul Boudre, current boss of the company, in front of financial analysts. “I fully respect the decision of the board of directors” to appoint Pierre Barnabé (one of the current leaders of the French IT group Atos), he added before presenting the company’s quarterly results in the presence of Eric Meurice, Chairman of the Board of Directors. Soitec manufactures materials on which its customers can then etch semiconductors. Its star product, silicon on insulator, is present in all smartphones in the world.
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