Safran appoints Olivier Andries as new CEO

November 08, 2019 - France

The board of directors of Safran has selected Olivier Andries as successor to Philippe Petitcolin in the position of chief executive officer, with effect on January 1, 2021, after a transition period of one year starting on January 1, 2020. Safran is a high-technology group, operating in the aircraft propulsion and equipment, space, and defence markets.

As of that January 1, 2020, Andries will serve under Petitcolin’s authority. He has demonstrated all the qualities required to lead the group. He has acquired solid operational experience over the past ten years in the group’s defence and security activities (2009-2011) and propulsion activities since 2011 (Safran Helicopter Engines and subsequently Safran Aircraft Engines). The year 2020 will be devoted to specific missions under the authority of Petitcolin, the company said in a press release.

Andriès is CEO of Safran Aircraft Engines since June, 2015. He holds degrees from Ecole Polytechnique and Ecole des Mines de Paris. After holding several positions in the French ministry of industry and the treasury, he joined the cabinet of the minister of finance in 1993 as advisor on industrial affairs. He joined Safran in March 2008, as executive vice president, strategy and development, then was named executive vice president, defence – security branch in September 2009. From 2011 to this latest appointment he was chairman and CEO of Safran Helicopter Engines (Turbomeca). Effective June, 2015, he is appointed CEO of Safran Aicraft Engines (Snecma).

“Monique Cohen, our lead independent director and chair of our appointments and compensation committee, and I were tasked by the board to manage the selection process for Petitcolin’s successor. After screening and auditioning internal and external candidates, the committee recommended to the board that it select Andries to succeed Petitcolin. Petitcolin’s term of office having previously been extended to December 31, 2020, the conditions for smooth and orderly transition are therefore in place,” Ross McInnes, chairman of Safran’s board of directors said.