Areva announced Friday that the company will integrate North American business entities Areva NP Inc. and Areva NC Inc. into Areva Inc. According to the release, Michael W. Rencheck also replaces Jaques Besnainou as president and CEO as a result of the restructuring.
Areva NP Inc. was the company's largest North American business unit, with annual revenues of more than $1.3 billion. The consolidated Areva Inc. now has annual revenues of more than $2 billion.
Rencheck – who was hired in January of 2009 – has improved performance, achieved profitability and established sustainable growth for Areva NP. He will assume his new duties effective immediately.
“I am honored to be asked to lead such an outstanding organization and look forward to working with my colleagues to maintain and grow AREVA’s position as a leader in clean energy solutions for North America,” said Mr. Rencheck.
Also in the release, Areva expressed gratitude to Mr. Besnainou, who has been with the company since 2001 and successfully implemented a multitude of major developments throughout the world.