Leadership Changes At Manitou
Manitou’s board has announced that Jean-Christophe Giroux, president and chief executive officer since June 2009, stepped down as of March 6. Giroux, whose term of office was to expire June 6 at the company’s annual general meeting, is being replaced on an interim basis by Dominique Bamas, an independent board member since June 2009 who has been acquainted with the company for 25 years. The announcement was made as part of the company's 2012 financial results.
Manitou complimented Giroux “for weathering the 2009 storm, for initiating all necessary reforms, and for successfully repositioning the CE and IMH divisions.” But it added “At the same time, the Board believes that the new environment calls more for an operational focus, with a better balance between profitability and development.”
Giroux will stay on through March 31 to facilitate the transition.
“We are starting a new chapter of our history, which could not have been possible without Mr. Giroux’s action since 2009,” said Board Chairman Marcel Braud. “Many changes were necessary but after three years of transformation, we now need to take a pause and reflect on our priorities. Mr. Bamas will help us consolidate our progresses for a few months while we’ll be searching for the new leader.”
Bamas, 53, has an accounting background and started his career with the French representative of PriceWaterhouse and served in positions at several companies, including CEO of French cereal cooperative Axereal until 2011. Since then he has worked as a consultant and focused on his role as Manitou Group board member.
Henri Brisse, who joined Manitou in September 2011 as worldwide vice president of sales & marketing, will also be leaving the company, the board announced. No successor was named.