GTT: refocusing of Elogen and resignation of CEO

(CercleFinance.com) - Announcing the initial conclusions of its strategic review, GTT states that, without ruling out other options for its future, Elogen's business should, in the long term, focus on research and development, after delivery of current orders.


This refocusing implies a project to reorganize and adapt the workforce within Elogen, likely to result in the loss of 110 positions, as well as the suspension of construction of its Vendôme plant and the study of options for the future of the site.

The Board of Directors also announces the resignation of Jean-Baptiste Choimet as Chief Executive Officer (CEO) of the Group as of today. His functions will be exercised, on a transitional basis, by the Chairman of the Board Philippe Berterottière.

Noting, however, that its activities outside Elogen are performing solidly, GTT confirms its sales and EBITDA targets for 2024, at the top end of the target ranges as indicated last October.


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