LONDON — Thales has undertaken a significant reshuffle of its management team, only part of which are accounted for by the upcoming retirement of Executive Vice President Alex Dorrian.
Unveiling better-than-expected results for the half-year on July 25, Chief Executive Luc Vigneron announced an executive shake-up involving eight key appointments or expansion of duties. Only five of the present executive committee retain their current remits, said Thales.
It’s the latest of a number of management changes since Vigneron was appointed chief executive in 2009. His appointment was followed by a large-scale restructuring of the company’s management in 2010.
One financial analyst in Paris said the latest reshuffle was part of an ongoing attempt by the chief executive to break down the remaining baronies that exist within the Thales management structure.
Dorrian, the chairman of Thales UK and responsible for wider group operations in North America, Australia, Northern Europe and parts of Asia, retires at the end of next month. His group role is being taken up by Pascale Sourisse, who retains her position at the head of the defense and security business.
Reynald Seznec, the boss of the Thales Alenia Space joint venture with Finmeccanica, is now also taking on geographical responsibilities for most of the rest of the world outside France.
Land defense, air operations, space, land and security C4I and other business sectors are also impacted by senior management changes.
Compared with the same period of 2011, Thales reported a 7 percent sales rise for the six months to the end of June to 6.1 billion euros ($7.4 billion).
Defense and security revenues declined marginally to 3.22 billion euros. The aerospace and transport segment of the business advanced 2 percent to 2.69 billion euros.
Despite defense budget pressures in many markets, Thales reported a 22 percent order book increase to 3.03 billion euros for defense and security compared with 2011.