This is the reason why I seek a new mandate

Les Echos n 20436 03/06/2009 p. 11 EUROPE ERNEST - ANTOINE SEILLIRE, President of BUSINESSEUROPE, the employers European "presence in the capital of Saint-Gobain is a major focus of our strategy," since a year, your position at the head of the Wendel group is disputed by some members of your family. How do you live The charivari to which you refer has remained very limited. It boils down to the actions carried out by a shareholder. I note also that the justice, on various occasions, rejected his accusations. Even the "Cousin" was sentenced in corrections for defamation. Proposals for a resolution that she and a handful of family shareholders have made to the Council of the SLPS (family holding, Editor's note), they will all be rejected by the family, United around François de Wendel, its President. Débouclé Wendel management incentive plan in 2007 while raised a stir... I must admit that the effort of education to the family on the plan was insufficient. But I think it is essential to note that the rest of our shareholders, that still represents 65 of the capital, found nothing wrong. However, it often professional investors. In hindsight, do you think that this plan was a mistake It is part of the change in strategy that I introduced in 2001, resulting in the takeover of firms that use leverage more financial perspective. It is in this context that we have in place a legal device to ensure that the management buys, I insist on this word, 5 of the capital of Wendel. We are shareholders. If, at the time where we have purchased, the potential gain was considerable, the operation white today falling stock market. We took our risk manager, that's all. In this context, was the departure of the President of the Executive Board inevitable Jean-Bernard Lafonta chose to leave. He was tired of personal attacks and concerns about equity in Saint-Gobain. The dissension in the family affected the image of Wendel. Should we not review governance between the investment firm and the family holding company The joint between the SLPS and Wendel is clear but poorly understood sometimes. The influence of the family through the appointment of the directors representing in the Supervisory Board of Wendel. It's like this that my many cousins in the SLPS can exert their influence on Wendel. Doubts have emerged in recent months about the financial health of Wendel. What is really We have both been victims of the reversal of conditions and our exposure to the construction sector. At the time, the value of our assets has melted from the debt. All this is behind us and Frédéric Lemoine will present to the General Assembly a solid group. Was the entrance to the capital of Saint-Gobain timely Of course, the timing was not ideal, but this industrial operation done more to the meaning for Wendel. It is a major focus of our strategy. Our goal is to have a clear industrial policy. I am therefore very proud to have established in our tradition, a sustainable relationship with Legrand, Bureau Veritas, or Saint-Gobain, world leaders for the future where are your relations with the management of Saint-Gobain, which allowed you rather freshly in the fall of 2007 The circumstances were not served us. But you know, my long investor experience taught me that what matters above all, it is the quality of the contribution of the shareholder. The events of the last months have not given it envy you withdraw from Wendel I wish to remain Chairman of the Supervisory Board of Wendel and working to revive our group. It is also the unanimous wish of the Council of my family. I want to accompany Frédéric Lemoine, the new President of the Executive Board, which has the support of all. This is the reason why I seek a new mandate. I am motivated and confident.