Coface has announced the appointment of Jean-Marc Pillu to the role of chief executive officer. The Board gave a mandate to Mr. Pillu to define over the coming weeks a strategy for Coface that is in line with Natixis’ strategic plan. He will manage this new phase in the development of Coface. Mr. Pillu replaces Jérôme Cazes, who left Coface due to differences of opinion with the shareholders.
BIIA comment: Jerome Cazes was a champion of information. He was the chief architect of Coface’s move into credit information at a time when many in his peer group in credit insurance believed that owning credit information was a conflict of interest. Also there was the notion that information could be bought cheaper than making it in house. Nevertheless, he remained determined in his quest for Coface to become the ‘Number 2’ in credit information globally.
The entire credit insurance and credit information industry is now wondering whether the departure of Mr. Cazes will herald the exit of Coface from the credit information industry.