Nexans (NEX) Status update summary

Leadership transition and succession

• Julien Hueber appointed CEO, succeeding Christopher Guérin, with immediate effect; Guérin to support transition until October 31.

• Succession process followed robust governance, benchmarking internal and external candidates with an executive search firm.

• Hueber has 23 years at the company, deep operational expertise, and led the largest business unit.

• Transition aims to ensure continuity, with no change in strategy or financial guidance.

• Christine Pévol to become interim CFO from November 1, with a permanent CFO search well advanced.

Strategic direction and operational focus

• Strategy on sustainable electrification and financial targets for 2026 and 2028 remain confirmed.

• New phase focuses on strengthening operational excellence, competitiveness, and innovation, including AI.

• Emphasis on industrial excellence and maximizing output from existing and expanded industrial footprint.

• Recent M&A in Europe highlights opportunities for synergy and mutualization of industrial assets.

• No specific new plans for Asia despite Hueber's experience in the region.

Financial and performance highlights

• Cash generation since 2018 reached €2 billion; return on capital employed in electrification rose from 9% to nearly 30%.

• Company maintains a strong balance sheet, high margins, and a full high-voltage backlog.

• Capital allocation and accelerating M&A are identified as key priorities for the next phase.

• No delays expected in M&A activity due to the CEO transition.