Coface Welcomes Risk Management Veteran Yves Charbonneau to Its Board

Coface SA, a leading provider of trade credit insurance and specialty services, has bolstered its Board of Directors with the appointment of Yves Charbonneau, a seasoned insurance professional with a strong background in risk management. Charbonneau, who joins as a non-independent director, replaces Nicolas Papadopoulo, who stepped down to focus on his professional responsibilities at Arch. This strategic move is expected to enhance Coface's risk management capabilities and support its Power the Core strategic plan.

Charbonneau brings a wealth of experience to the table, having spent almost 12 years as Chief Actuary and Chief Risk Officer at Arch Insurance Company Ltd (Canada). His expertise in risk assessment and mitigation will be invaluable in helping Coface navigate the complex and ever-changing risk landscape in the trade credit insurance industry. With his extensive knowledge of risk management and actuarial science, Charbonneau is well-positioned to contribute to Coface's strategic objectives and help the company achieve its through-the-cycle financial targets.

One of the key aspects of Charbonneau's appointment is his alignment with Coface's Power the Core strategic plan. This plan aims to develop a global ecosystem of reference for credit risk management by deepening and broadening the quality of Coface's franchise. Charbonneau's background in risk management and actuarial science will be particularly valuable in this regard, as he can help Coface reach data and technology excellence and improve its risk infrastructure.

Moreover, Charbonneau's appointment maintains the balance of skills and expertise among the directors. The board remains composed of 10 members, with 6 women and 4 men, and the majority (6) of whom are independent directors. This balance ensures a diverse range of perspectives and experiences, which is crucial for effective decision-making and governance.

In conclusion, the addition of Yves Charbonneau to the Board of Directors of COFACE SA is a strategic move that strengthens the company's risk management capabilities and supports its Power the Core strategic plan. Charbonneau's expertise in risk management and actuarial science, combined with his alignment with Coface's objectives, makes him an invaluable addition to the board. As Coface continues to navigate the complex and ever-changing risk landscape, investors can be confident that the company is well-positioned to achieve its strategic goals and deliver strong financial performance.