Laurent Mignon appointed Chairman of the Board of Directors of Coface
The Board of Directors of Coface met today and appointed Laurent Mignon Chairman of the Board of Directors of the company. Laurent Mignon is the Chief Executive Officer of Natixis, shareholder of Coface. He takes over from François David, whose mandate has ended.
«I would like to pay tribute to the remarkable work carried out by François David who was Chairman of Coface for more than 18 years. During these years, Coface expanded into 66 countries and became a worldwide leader at the service of companies and their international development”, said Laurent Mignon.
This change of presidency takes place in the continuity of the strategic orientations and the Board of Directors fully supports Coface’s refocusing on its core business, credit insurance. Implemented by Jean- Marc Pillu, Chief Executive Officer of Coface since December 2010, this refocusing, combined with a refined management of risks to better accompany clients has already proven its pertinence through the acceleration of the profitable growth of Coface in 2011 ».
Laurent Mignon is the Chief Executive Officer of Natixis since 2009.
Laurent Mignon spent 10 years at AGF from 1997 until 2007, where he was successively Chief Financial Officer, member of the Executive Committee, Deputy Chief Executive Officer in charge of the Life and Financial Services sector, Chief Executive Officer of AGF Group, Chairman of the Executive Committee and member of the Executive Committee of Allianz.
He was Managing Partner of Oddo & Cie, alongside Philippe Oddo from September 2007 until May 2009.
Laurent Mignon is a member of the Board of Directors and Strategic Committee of Sequana, a member of the Board of Directors and the Audit and Accounts Committee of Arkema, Director of Lazard Ltd, a member of the Board of Directors of Coface and Censor at the Supervisory Board of BPCE. Laurent Mignon, age 48, is a graduate of HEC (1986) and of the Stanford Executive Program.
The Coface Group, a worldwide leader in credit insurance, offers companies around the globe solutions to protect them against the risk of financial default of their clients, both on the domestic market and for export. In 2011, the Group posted a consolidated turnover of €1.6 billion. 4,600 staff in 66 countries provide a local service worldwide. Each quarter, Coface publishes its assessments of country risk for 157 countries, based on its unique knowledge of companies’ payment behaviour and on the expertise of its 250 underwriters.
In France, Coface manages export public guarantees on behalf of the French state.
Coface is a subsidiary of Natixis whose Core Tier 1 ratio is 10.2% end December 2011.