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Thomson Realigns Its Board

Boulogne, France – Thomson Multimedia’s board reorganized itself adding several independent directors in anticipation of anticipate expected changes in corporate governance practices worldwide, the company said.

Following the divestiture of Alcatel, NEC, and DirecTV from Thomson’s share capital, their representatives resigned from the board. However, Eddy Hartenstein, chairman of DirecTV, was invited to continue as a member by the board in his personal capacity.

Two additional independent board members were named – Igor Landau and Pierre Lescure. Landau is chairman of the management board of Aventis, a pharmaceutical company. Lescure is a veteran of the media and content industry, markets in which Thomson generates almost 40 percent of sales, according to Thomson.

In a prepared statement, the company said the naming of new independent directors anticipates the expected changes in France and the United States in matters of corporate governance.

Also discussed during the meeting in which these changes were approved, the board reviewed current trading conditions. Thomson noted that it will make no changes to its full-year revenue targets, or profitability guidance, given to the market on the occasion of its half-year results in July. Many of the key business trends of the first half, including currency movements, have continued into the third quarter. Third quarter sales will be published on Oct. 8.