December 15, 2022 press release
After handing over the executive management of PX Group to his two sons Philippe and Sylvain Chave a few years ago, Chairman and founder Pierre-Olivier Chave is organizing the Group’s future in terms of strategic governance. A PX Foundation will be set up in La Chaux-de-Fonds, which will become a shareholder in the company, with the mission of contributing to its sustainability and responsible development. At the same time, members of the Group Executive Committee will also be offered the opportunity to participate in the share capital. For Pierre-Olivier Chave, who will remain fully involved as Chairman of PX Group, the overall aim of this approach is to ensure that the company has a solid shareholder structure, guaranteeing its independence over the long term.
Alongside the Chave family, a PX family united by strong values
Having devoted most of his life to leading PX Group to the success it enjoys today, Pierre-Olivier Chave was joined in the adventure by his sons. And around the Chave family, a “PX family” of competent and committed people put their know-how to work to develop the group. Alongside the opening up of share capital to members of the company’s executive committee, the planned changes in corporate governance reflect the Group’s determination to maintain its independence in an entrepreneurial spirit imbued with strong values.
A solid shareholder base serving the Group
The group has been led since 2015 by Messrs. Philippe and Sylvain Chave, the founder’s two sons, are also shareholders. Pierre-Olivier Chave, the main shareholder, chairs the Group’s Board of Directors. From 2023, the PX Foundation will become a minority shareholder, while up to 5% of the share capital will be open to members of the company’s Executive Committee. In the longer term, Pierre-Olivier Chave’s remaining share capital will be transferred to the PX Foundation, which will then become the group’s main shareholder.
A PX foundation with an industrial vocation
The new foundation, which will be set up in early 2023, will have as its primary aim to contribute to the sustainability and responsible development of PX Group. With its industrial and entrepreneurial vocation, the foundation may also hold stakes in other companies. In addition, depending on its resources, the Foundation may also make occasional contributions to regional development, particularly in the fields of education and culture. The PX Foundation will be headquartered 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 welcome visibility and a message of confidence in today’s highly uncertain environment.
For all enquiries, please contact Mr Pierre-Olivier Chave, President of PX Group SA, via his secretariat on +41 32 924 01 02 or by e-mail 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 it is headquartered. A major player in the metalworking industry, the Group has 10 companies with a total of some 550 jobs, mainly in Switzerland and Malaysia.
As a supplier of innovative solutions and semi-finished metal products to a wide range of industrial sectors, the Group boasts extensive expertise in the fields of metallurgy and tooling. The Group proudly assumes a pioneering role in ethical gold sourcing and is making a concrete commitment through the implementation of its PX Impact® initiative.
Cultivating its independence and an entrepreneurial spirit conscious of its social responsibilities, the Group and its founder participate in regional development efforts, notably through support for an EPFL research chair and various community infrastructures and cultural events.