Gemalto Announces Future CEO Succession

Gemalto announced that CEO Olivier Piou has decided to retire from the company at the end of August, 2016. Philippe Vallée, currently COO of Gemalto, will be proposed by the board of directors at the annual general meeting of shareholders to become an executive director of the board and the company’s new CEO, effective Sept. 1, 2016.
 
Piou will be proposed by the board to continue to serve as a non-executive director of the company as of the same date.
 
Piou, 57, who joined in 1981, has led the company 18 years, first known as the Smart Cards division of Schlumberger. He introduced it to the stock market in 2004 under the name of Axalto, and then conducted the successful merger of equals with Gemplus, which created Gemalto in 2006.
 
Under his leadership, Gemalto became the foremost digital security company, doing business in 190 countries with more than 14,000 employees. Most people today have Gemalto technology in their pocket, be it a banking card with a chip to pay, a SIM in their mobile phone to communicate and access the Internet, an electronic passport to travel safely, a corporate authentication badge to work in and away from the office, as well as many other smart objects whose capabilities are enabled and remotely managed by the company’s software, platforms and services.
 
Vallée, 51, joined the company in 1992. He successfully led critical projects for the company such as the EMV ramp up in the US, the integration of SafeNet, the Group’s biggest acquisition to reinforce Gemalto presence in the rapidly growing space of cyber security, and the development of government programs to capture the growth of this expanding market.
 
Vallée joined Gemplus in 1992, eventually becoming president of the Gemplus Telecom business unit. Vallée has held a number of executive roles in Gemalto, including EVP Telecom, VP of sales and business development, and CTO. He has international leadership experience, having served in senior positions in Europe and Asia. In addition to his role in the company’s achievements for the Telecom industry, Vallée was the architect of Gemalto’s successful development in the Internet of Things, Enterprise and Platforms & Services activities, significantly contributing to its transformation.
 
“Olivier has been a leader in transforming both Gemalto and the industry during his time as CEO,” said Alex Mandl, chairman of Gemalto. “In 2006, we had one main product line and the business performance relied almost entirely on the sales of SIMs for mobile phones. Now Gemalto provides the broadest portfolio of technologies in the industry used by tens of thousands of businesses and governmental agencies worldwide and delivers two essential functions for modern digital services: authentication and data protection. On behalf of the Board, and the wider Gemalto team, deep thanks are due to Olivier for his passion, vision, superior execution and leadership.
 
“The Board is delighted to have someone of Philippe Vallée’s experience and leadership within Gemalto to appoint to the role of CEO,” Mandl added. “Philippe Vallée’s strong business acumen and superior management skills across a range of senior executive roles make him an excellent CEO candidate, highly qualified to take the company forward.”
 
“After such a large number of years at the helm, I believe that this autumn will be the right time to bring in a new leadership, which is ready and able to execute on our next phase of growth,” Piou said. “September 2016 is the time when we accelerate the preparation of the company’s next strategic plan. By transitioning management then, I want to give the new CEO the space to design what will come next for Gemalto. Philippe is an excellent choice to lead Gemalto.”
 
“Authentication and data protection are truly essential to modern digital services and the products, platforms, software and services that Gemalto provides are fundamental elements of the 21st century way of life,” Vallée noted. “I have really enjoyed working jointly with Olivier over these last 10 years, especially during my latest assignment as the company’s chief operating officer. Gemalto is an amazing company, made of highly motivated women and men, and I am keen to take the lead to continue its development, focusing first on reaching our 2017 goals and preparing our next phase of expansion.”