Countries in the Central and Eastern Europe region enjoyed favourable economic con-ditions last year. This led to an improved situation for CEE businesses. The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%. The region showed a varied picture, with double-digit deterioration recorded in Ukraine and Lithuania, whereas Romania and Hungary enjoyed significant improvements. Coface forecasts that businesses will continue to take advantage of supportive conditions and that company insolvencies will drop by -5.3% in 2016.
The Board of Directors of Coface announces the appointment of Xavier Durand as Chief Executive Officer01/15/2016
This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.