EVS CFO Jacques Galloy Departs Company

Posted by Joe Zaller
Jul 08 2013

Production and playout video server specialist EVS announced that EVP and CFO Jacques Galloy is leaving the company to take up new challenges and pursue other private and professional projects.

 

Jacques Galloy

 

Here’s the full statement from the company:

EVS Broadcast Equipment SA, the leading provider of live video production systems, today announces the departure of its Executive Vice President and Chief Financial Officer (CFO), Jacques Galloy (42), representing Gallocam sprl, scheduled for late 2013.

After 12 years of dedication to the development of the group, 12 months after the introductory period of the new CEO, and now that the new organization is in place, he plans to take up new challenges and pursue other private and professional projects. In accordance with the Board of Directors, he shall accompany the transition until the arrival of a new chief financial officer, at the latest at the end of the year.

The Board of Directors and the Group CEO Joop Janssen, praise his hard work and professionalism: “Jacques Galloy skills have been an important asset for EVS and he has contributed greatly to the development of the group. We want to thank him for his service and we wish him the best for the future.”

“Developing EVS during those twelve years with this great team was an amazing experience”, said Jacques Galloy.

Pierre Rion, Chairman of the Board of Directors, said: “I am delighted that Jacques Galloy continues his Board mandate at least until his term at the Ordinary Annual General Meeting in May 2014.”

 

In article about his departure from EVS, Belgian newspaper Le Vif, described Galloy as “more than a CFO,” saying he played a role at the company “well beyond the scope of his official duties,” referring to Galloy’s expanded role following the departure of EVS co-founder and CEO Pierre L’Hoest in September 2011. At that time, the company announced that it had modified the structure of its executive committee by placing Galloy and two other executives  in charge of its technical, commercial, operational, corporate and financial functions until a new CEO was appointed.

In May 2013 EVS named industry veteran Joop Janssen CEO.  Jassen had previously been CEO of the Videocom division of the Vitec Group. Jassen announced a new strategy and vision for EVS in February 2013, along with record revenue and profits.

According to the Le Vif article, although Galloy had to “return to a little more restraint from the commitment of the new CEO Joop Janssen,” his departure from the company is not the result of a disagreement with the company. EVS board chairman Pierre Rion  told Le Vif that Jassen’s appointment “in no way prompted [Galloy’s] departure. We are all in excellent terms and Jacques Galloy will also remain a director of EVS. It is therefore rather see his departure as a new personal challenge. ”

Galloy joined EVS from broadcaster RTL where he worked for five years in a number of senior financial position.  Prior to RTL, he was a senior auditor at PwC.

EVS, one of the broadcast industry’s most profitable technology vendors, reported a Q1 2013 net profit of €10m on revenue of €32.8m, up 15.8 and 9.2% respectively versus the same period a year earlier.

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Related Content:

Press Release: Chief Financial Officer Jacques Galloy Leaves EVS Group

Le Vif Article: CFO Jacques Galloy leaves EVS (translated from French)

EVS Revenue up 9.2% in Q1 2013, Driven by Strong Performance in APAC

EVS Posts Record Revenue in 2012, Unveils New Strategy and Vision for Future

Press Release: EVS Broadcast Equipment Appoints Joop Janssen as CEO

EVS CEO Pierre L’Hoest Steps Down (Sept 2011)

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