After it was announced that Ludovic Richard-Vitton would be the next CEO of Vygon, Medical Plastics News wanted to find out his thoughts about his new role in the company he’s been a part of for 20 years and his plans for the future of Vygon.
Could you please tell us about your previous experience with the company?
Bruno COHEN
I started out at Vygon as a product manager and worked my way up through the French organisation to a management position.
In 2017, I became vice president of the Critical Care business unit, where I was in charge of marketing and regulation.
Stéphane Regnault, Vygon’s former CEO and member of the founding family, is now president and will continue to represent the family business in its interactions with its various stakeholders. I believe I was chosen to take on the CEO role because I have the same ‘Vygon DNA’ as the founding family members, thanks to my 20-year career in the company.
Do you have any ideas about what you’re planning for the company as CEO?
We have a strategy in place, which has already been in action for two years; initially I will be taking the lead on this, as continuity is the primary goal.
20 years ago, the company turnover was less than €100 million; in 2021 we reached €349 million. The company has to grow and adapt to such a huge increase in turnover. We know that there are things that we must change. This is precisely the aim of our current strategic plan: to reinforce the value chain – for example, we know that we must modify our industrial tool for the future challenges ahead, to be more proactive and accommodate industry 4.0.
The transition to the new European MDR (Medical Device Regulation) is very important for us, I think it's the same for all medical device companies. We are working hard to be able to submit all our products in time. New regulations are essential for the patients. Internally, we are committed to being able to submit the documentation whilst maintaining our quality level of service. Our team is making it a priority to reach compliance levels, in which I am confident we will succeed.
Also, we must continue to develop internationally. Today, Vygon has 27 subsidiaries. A part of my work here is to further their development, as soon as we have an opportunity to do so. It's better to be directly in contact with the users of our product than to rely on our distributors.
We also want to increase our innovation capacity. We know that we have to deal with both incremental innovation (to adapt our product to the needs of the patient) and at the same time we must think about the future; perhaps creating some new solutions. Each time that we have innovated, we have done it with the customers and users of our products in mind.
From my personal experience, I believe that employees are happy to work for a family company. So, it is very important for me to demonstrate that I have the same DNA and that I don't want to fundamentally change things. We know that some aspects of the business will evolve to ensure that Vygon will be stronger in the future. We don't want to change our DNA, which is directly linked to the family and its company values. This is a priority for us, every day is a new opportunity to share these values with all our employees.
Will family members still be a part of the company in the future?
My view is that I want to stay in this position for as long as possible and keep collaborating with all the founding family members. Also, as mentioned, the group president, Stephane Regnault, remains very much involved in the company, with a role as the group’s spokesperson, responsible for liaising with institutions, regulatory bodies and other professional organizations. He will also be leading efforts to promote external growth.
I'm very happy to have this opportunity to take the lead within the Vygon group with the support of the shareholders. To maintain this confidence is a real priority for me; I am very optimistic that I will be able to achieve the company’s objectives.