Valeo has restructured its operations to better address the electrification market expectations and improve its competitiveness and financial performance, it said in a press release dated April 22. The company has created a new division called Valeo Power, which combines its thermal and powertrain activities. Xavier Dupont has been appointed the chief executive officer of the Valeo Power division and Valeo Group executive vice president.
The company has also updated the names of its other two divisions to reflect the evolution of their activities. The Valeo Comfort and Driving Assistance business group is now called Valeo Brain, while the Valeo Visibility business group is now called Valeo Light.
Marc Vrecko has been appointed the chief executive officer of the Valeo Brain division and Valeo Group executive vice president, while Maurizio Martinelli has been appointed the chief executive officer of the Valeo Light division and Valeo Group executive vice president.
Valeo's new operational structure is organized around these three divisions, which will become the financial reporting segments of the group starting at the 2024 half-year results. The company's aftermarket activity remains under the Valeo Service activity, with Eric Schuler appointed the chief executive officer of Valeo Service Activity.
"Today is an important milestone in the story of Valeo with the creation of our new Valeo Power division, born from the merger of our former Powertrain Systems and Thermal Systems Business Groups. As we further accelerate in electrification, our Valeo Power division will enable us to offer our customers technologies tailored to market expectations in terms of performance and cost. The new division will also contribute to our efforts to improve our competitiveness and financial performance," said Christophe Périllat, Valeo CEO.
