FREDRIK ARP TO JOIN QIOPTIQ AS CHAIRMAN AND CEO

Qioptiq, a global company which designs and manufactures photonic products and solutions, today announced that after ten years as its CEO, Benoît Bazire has left the Group in agreement with Candover, the principal shareholders, to pursue alternative business opportunities.

Qioptiq, which was formerly known as High Tech Optics, was acquired by Candover and its management in a buyout from Thales in December 2005. Mr Bazire will retain an economic interest in Qioptiq.

Mr Bazire will be replaced by Fredrik Arp who joins the company as Chairman and CEO, effective immediately. Mr Arp has held senior executive positions in large global companies for the last 20 years, most recently as CEO and president of the Volvo Car Corporation.

Nils Stoesser, a partner at Candover, said: “We thank Benoît for the quality of his leadership as head of Qioptiq. During the four years we worked with him, he has developed the company both internally, including overseeing the construction of a state-of-the-art optics factory in Singapore, and externally by way of acquisitions, including the purchase of Linos in Germany and Point Source in the United Kingdom. The result has been to position Qioptiq as a world-leading photonics company. We wish Benoit every success in his new endeavors.”

Benoit Bazire said:  “I have had a great time with the Qioptiq team, and I would like to thank them all for their dedication and professionalism. With Candover’s support we have been able to move the business forward significantly, in line with our vision at the time of the buyout: Qioptiq has become a major sector consolidator via a selective acquisition strategy; we have invested in our resources and our people to make the group a market leader in professional high-tech optics; and we have built up a business model which has enabled the company to weather the current economic storm. ”