PARIS -- French auto supplier Valeo said on Wednesday it had appointed deputy CEO Christophe Périllat as its new chief executive, confirming previously announced plans, as the company posted preliminary 2021 results including disappointing cashflow numbers.
Valeo said outgoing CEO Jacques Aschenbroich, who became CEO in 2009, will continue to act as chairman of the board.
The company has been aggressively expanding its automotive driving assitance technology offerings along with its traitional powertrain and thermal products businesses. Valeo showcased several new technologies at CES earlier this month in Las Vegas.
Périllat accepted the appointment, touting the company's technological abilities with this video message, posted on YouTube: