Press release of 15 December 2022
After handing over PX Group’s executive management to his two sons Philippe and Sylvain Chave, Chairman and Founder Pierre-Olivier Chave is organizing the group’s future from the perspective of its strategic governance. A new PX Foundation will be established in La Chaux-de-Fonds listed as a shareholder of the company, with the mission of contributing to its sustainability and responsible development. Simultaneously, the group’s top executives will also be offered the opportunity to participate in the share capital. For Pierre-Olivier Chave, who will continue to be fully involved as Chairman of PX Group, the overall objective of the approach is to ensure that the company has a solid shareholder structure, guaranteeing its independence in the long term.
Alongside the Chave family, a PX family united by strong values
After dedicating most of his life leading PX Group to its current success, Pierre-Olivier Chave was joined in the adventure by his sons. Surrounding the Chave family, a “PX family” of talented and committed individuals devote their know-how at the service of the group’s development. In parallel with the opening of share capital to the company’s top executives, the planned changes in governance reflect the desire to perpetuate the group’s independence in an entrepreneurial spirit imbued with strong values.
A solid shareholding at the service of the group
The group has been managed since 2015 by Philippe and Sylvain Chave, the founder’s two sons, who also participate in the share capital. Pierre-Olivier Chave is the main shareholder and chairs the group’s Board of Directors. From 2023 onwards, the PX Foundation will become a minority shareholder, at the same time as the share capital will be open to the company’s top executives up to 5%. In the longer term, the balance of Pierre-Olivier Chave’s share capital will be transferred to the PX Foundation, which will then become the group’s majority shareholder.
An industrial PX Foundation
The new foundation which will be created in early 2023 will prioritize and contribute to the sustainability and responsible development of PX Group. With an industrial and entrepreneurial vocation, the foundation may also hold stakes in other companies. In addition, depending on its resources, the foundation may also make an ad hoc contribution to regional development, particularly in the fields of education and culture. The headquarters of the PX Foundation will be in La Chaux-de-Fonds. The Foundation Board appointed by founder Pierre-Olivier Chave will comprise between three and seven members and will be chaired by Jean-Nathanaël Karakash.
A message of confidence in the future
The planned developments are part of a long-term perspective. They offer the company, its staff and all its partners a welcome visibility and a message of confidence in the current uncertain conditions.
For any request, please contact Mr. Pierre-Olivier Chave, President of PX Group SA, via its secretariat at +41 32 924 01 02 or by email at pierre-olivier.chave@pxgroup.com.
About PX Group SA
The PX Group was founded in 1976 by Pierre-Olivier Chave in La Chaux-de-Fonds, where seats the headquartered. A major player in the metallurgical industry, the group has 10 companies with a total of some 550 jobs, mainly in Switzerland and Malaysia.
Supplier of innovative solutions and semi-finished metal products for many industrial sectors, the group has a wide range of expertise in the fields of metallurgy and tooling. The group proudly assumes a pioneering role in the sourcing of ethical gold and is concretely committed through the implementation of its PX Impact® initiative.
Cultivating its independence and an entrepreneurial spirit aware of its social responsibilities, the group and its founder participate in regional development efforts, notably through support for an EPFL research chair as well as various collective infrastructures and cultural events.
