Jan 21 (Reuters) - Soitec's plan to appoint a new
CEO has the "full support" of its main shareholders, the French
semiconductor company said on Friday, after the company's
executive committee questioned the decision.
Following Pierre Barnabé's appointment as CEO on Wednesday,
the executive committee sent a letter to the board of directors,
seen by Reuters, describing the move as "incomprehensible" given
the progress made by current CEO Paul Boudre.
"The chosen successor of Paul Boudre, Pierre Barnabé, has
the necessary skills and experience to lead Soitec as Chief
Executive Officer for the next phase of growth towards our
ambitious objectives," the group responded in a press release.
Barnabé, who is senior EVP, Group Security Officer and
Global Head of Big Data and Cybersecurity at Atos, is
due to join the company on May 1 and take over as CEO at the end
of the July 2022 shareholders' meeting.
Shares in Soitec slumped around 17% on Thursday, their worst
day since December 2014.
Soitec's four main shareholders, each with stakes of about
10%, are National Silicon Industry Group, Bpifrance,
BlackRock Financial Management and CEA Investment, according to
Refinitiv data.
(Reporting by Kate Entringer in Gdansk
Editing by Mark Potter)