Netgem’s Board of Directors has decided to separate the functions of Chairman and Chief Executive Officer, appointing Mathias Hautefort as its Chief Executive Officer, replacing Joseph Haddad who will remain Chairman.
Hautefort will assume his new position on July 1st and will remain President of Vitis (Videofutur).
“Mathias Hautefort has demonstrated, in the Group and before, his ability to develop service activities at the intersection of technology, media and telecoms. His appointment significantly strengthens the transformed Group’s ability to return to growth” commented Haddad.
“Netgem can build on its proven expertiseexperience in Services, coupled with an industrial capacity and innovation in Connected Devices, and a healthy balance sheet. I look forward to contributing to its development”, added Hautefort.
Meanwhile, Netgem’s consolidated revenue for Q1 was €6.6 million and net revenue €3.6 million. Vitis (Videofutur) net revenue, not consolidated, was up 42 per cent to €3 million. For the first time, more than 50 per cent of the net revenue for the Group’s extended scope came from services, reflecting the change initiated several years ago.