PCAS SA announced that the meeting of the Board of Directors of December 16, 2021 noted the resignation of Mr. Pierre Luzeau from his duties as Chief Executive Officer. The Board of Directors, at the meeting of December 16, also appointed Mr. Philippe Clavel as Chief Executive Officer for an indefinite period. Mr. Philippe Clavel will, therefore, support the PCAS teams during the continued deployment of transformation plans needed for modernization but also to improve reliability of operations, while developing new technological expertise. Mr. Philippe Clavel has spent a substantial part of his career within the Sanofi group, where he managed the Active Ingredient Solution business. He has a significant knowledge of the API and CDMO market, and he will be able to support the PCAS teams in facing future challenges.