Wavecom Announces Management Changes

Enhanced Senior Management Team To Implement New Strategy and Sharpen Market Focus.
Issy-les-Moulineaux, France-January 24, 2003

Wavecom SA (Nasdaq: WVCM; Euronext Nouveau Marché: 7306), the world’s number one provider of integrated wireless modules, today announced a change in the roles of the company’s Chairman and its Chief Executive Officer, as well as a number of changes to its senior management team, including the appointment of three new senior executives.

A first step in the implementation of a new corporate and market strategy, the changes reflect Wavecom’s ability to adapt its organization to the evolutions of the market environment and its increased focus on best practices for Corporate Governance.

Chairman and CEO Roles:

Wavecom considers that the proper functioning of the company is an essential element and driving force in its development. Wavecom’s Board of Directors has therefore decided that the company shall formally adopt the dual form of general management, which calls for the complete separation of the roles of Chairman and CEO.

The Board confirmed Michel Alard as Chairman, responsible for representing the Board.

The Board confirmed Aram Hékimian as sole Chief Executive Officer, with the mission of ensuring the operation and management of the Company, as well as the representation thereof vis- à-vis third parties. Previously Aram Hékimian legally was a co-chief executive with Michel Alard.

Changes to senior management team:

Acknowledging the need to adapt to a rapidly evolving market environment, turn Wavecom into a more efficient and customer-focused operation and continue to strengthen its market position, the Company has hired three new senior managers with broad experience from some of the world’s largest corporations.

In order to strengthen Wavecom’s regional operations, a new entity will be created in order to manage the Company’s operations in the Europe, Middle East and Africa region. Wavecom EMEA will be based in Issy-les-Moulineaux, France, and headed by Pierre Piver who has been appointed Group Vice President Europe, Middle East and Africa Region. Pierre Piver has held executive sales and management positions in companies including Philips, Texas Instruments and Siemens. Immediately prior to joining Wavecom, Pierre Piver was Managing Director of Infineon France.

Etienne Menut has been appointed Group Vice President Human Resources. He will focus on strategic initiatives associated with human resources as well as organizational and leadership development throughout the company. Etienne Menut is a senior human resources professional with proven results in all human resource function areas, and has worked with companies such as COGEMA and Matra. Prior to joining Wavecom, he was Human Resources Director of Microsoft France.

Vincent Mouret has been appointed Group Vice President Research and Development. Vincent Mouret is an industry veteran with over twenty years of experience from companies including Matra, Texas Instruments and Motorola, and comes to Wavecom from the position as Vice President and Managing Director of Alcatel’s Wireless Business division.

In addition to these new appointments, the following changes have been made to the responsibilities of the existing members of Wavecom’s senior management team:

Marc Cases has been appointed Group Vice President Operations. This new department combines Manufacturing, Quality and Customer Care functions, in order to ensure world-class quality of Wavecom’s product lines and manufacturing processes.

Deborah Choate has been confirmed Chief Financial Officer and Group Vice President Finance and Administration. In addition to her former responsibilities she will supervise Wavecom’s Legal department.

Hervé Gagnard has been confirmed Group Vice President Corporate Development. While continuing to head Wavecom’s Corporate Communications and Strategic Development functions, he has also been assigned the responsibility for Wavecom’s corporate marketing operations.

Philippe Guillemette, formerly Group Vice President Research and Development, moves into the new role of Chief Technology Officer, which relieves him of the day-to-day operation of the Research and Development department and allows him to focus on strategic technology development.

Hany Neoman has been confirmed Group Vice President and President of Wavecom, Inc.

Finally, Jean-Charles Andreani, Managing Director of Wavecom Asia Pacific Limited, Wavecom’s Hong Kong-based subsidiary, is leaving his position in order to focus on personal business interests. Given the importance of the Asia-Pacific region in Wavecom’s market strategy, Aram Hékimian, CEO, will assume the general management responsibilities for the Asia-Pacific region until a replacement for Jean-Charles Andreani has been found.

Aram Hékimian, Chief Executive Officer, said: “With these changes and new appointments, we have created a first class management team capable of dealing with the challenges Wavecom is facing in 2003 and beyond. The team is structured to better meet the current market environment, and to proactively develop our business in order to meet customer expectations and to adapt to increased competition”.

As a result of these changes, Wavecom’s new Executive Committee consists of the following members: Aram Hékimian, Chief Executive Officer; Marc Cases, Group Vice President Operations; Deborah Choate, Chief Financial Officer and Group Vice President Finance and Administration; Hervé Gagnard, Group Vice President Corporate Development; Philippe Guillemette, Group Vice President and Chief Technology Officer; Etienne Menut, Group Vice President Human Resources; Vincent Mouret, Group Vice President Research and Development; Hany Neoman, Group Vice President and President of Wavecom, Inc.; Pierre Piver, Group Vice President and General Manager of Wavecom EMEA Region.

The management changes take effect immediately.