Investment group Wendel supports the strategy and management of building materials group Saint-Gobain, in which it has accumulated a 18% stake, the head of Wendel was quoted as saying on 14 December 2…
Investment group Wendel supports the strategy and management of building materials group Saint-Gobain, in which it has accumulated a 18% stake, the head of Wendel was quoted as saying on 14 December 2007. “We support the strategy of (Saint-Gobain CEO) Pierre-Andre de Chalendar and share the main goals he has defined. What we want is to help management beat the financial objectives set in July 2007”, Wendel chairman and chief executive Jean-Bernard Lafonta told Le Journal des Finances in an interview. He said Saint-Gobain“s existing strategy of focusing on a few core businesses “appears coherent and should be continued”, adding: “That doesn“t exclude permanently examining the leadership (position) of each business and strengthening weak positions where that“s possible”. He said Wendel was in talks with management about how it should be represented on the Saint-Gobain board.