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Jan Vergote will be the new CEO of insulation company Recticel. The company announced that this morning. He is a loyal associate of Filip Balcaen, Recticel's main shareholder.

In the news: At the top of Recticel, Jan Vergote succeeds current CEO Olivier Chapelle, who is leaving the company after 13 years.

  • Chapelle and Recticel's board of directors have agreed on a transfer, which takes effect tomorrow.
  • Vergote will also immediately resign all his operational positions at Baltisse Group, Balcaen's family-owned group.

Literally: "After completing the transformation into a pure isolation player, the timing was ideal to pass the torch to a new CEO, who will lead the next phase of expansion of the company," says chairman Johnny Thijs (ex-Bpost) in the notes.

Zoomed out: Flemish industrialist Filip Balcaen, one of the country's wealthiest entrepreneurs, surprisingly became the of Recticel at the beginning of this year, around which an international takeover battle had been raging for years. With Jan Vergote, Balcaen is now sending one of his closest confidants to the company in Wetteren.

The company: Recticel is an industrial producer of polyurethane foam in various applications and best known to the general public for its insulation products. The listed company's history dates back to the year .

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