Plastic Omnium Shuffles Management Team

France’s Plastic Omnium SA is reorganizing its management team to bring in younger leaders to help prepare the company for long-term growth.

Laurent Favre, 48, has been named CEO, effective Jan. 1. He most recently was managing director of Swiss automation and engineering giant ABB Group. Favre previously headed Benteler Automotive and held executive positions at ThyssenKrupp and ZF Friedrichshafen.

Favre (pictured) will succeed co-CEOs Laurent Burelle—whose family founded the company in 1946—and Jean-Michel Szczerba. Burelle will remain chairman and CEO of Burelle SA, the holding company that owns a majority stake in Plastic Omnium.

Szczerba, who has had a 34-year career at Burelle, will serve as an advisor to the company. Paul Henry Lemarie is leaving his position as chief operating officer after 39 years with Plastic Omnium, but he will continue as a director and COO of the holding company.

Burelle's daughter Felicie, 40, will become managing director of Plastic Omnium on Jan 1. She started her career at Plastic Omnium in Spain, then spent five years at EY consulting. Felicie returned to the family business in 2015 and has been senior executive vice president since January 2018.

Plastic Omnium sold off its plastics container unit last year to better focus on its automotive business. The supplier makes fuel systems, exterior panels and modules, and operates several related joint ventures.