Article (google translate recommended)
http://www.optionfinance.fr/actualites/bourse/detail/cgg-standard-poors-degrade-a-ccc.html
S&P Global Ratings Definitions
https://www.standardandpoors.com/en_US/web/guest/article/-/view/sourceId/504352
6 replies (most recent on top)
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Wavefield acquired 2009.
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Malcor took control June 30 2010.
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Fugro Geo Division acquired 2013
You wrote:
I think Wavefield and Fugro were acquired before Malcor took control??? However, I would still agree that Malcor should go.
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Wavefield (before Malcor took control, that's correct as far as I know).
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Fugro Geo Division (after Malcor took control, that's for sure) .
3, Malcor must go? YES
I think Wavefield and Fugro were acquired before Malcor took control??? However, I would still agree that Malcor should go.
I'm still amazed they ever bought Wavefield and Fugro.
Surely Malcor must go?
CGG is under the management responsibility of Jean-Georges Malcor,
Mr Malcor: It's time to leave the company? (enough is enough?)
CGG and Veritas were two well performing companies before the merger. But the decision to bolster the acquisition division, to shift $ to Sercel whenever possible, to acquire Fugro geophysics division, and the inability to trim low performing and high maintenance union members in Paris ultimately drove the company to the ground. The last resort before the bankruptcy is to sell off Houston processing center, the only gem of the company. Well done and well deserved result. What a shame!