JACQUES MAILLOT has stepped down as the non-executive chairman of Eurotunel's joint board.

The joint board met on Friday to appoint 51-year-old Jacques Gounon as his replacement with immediate effect. M Maillot remains as a non-executive director.

M Gounon, a civil engineer by profession, was appointed a non-executive director of Eurotunnel on December 17, 2004. He has held senior positions in French public administration with the Ministry of Equipment, the Ministry of Employment and the Ministry of Transport.

As Eurotunnel enters a new phase, M Maillot wanted to pass responsibility of chairman to someone who could bring his expertise to the company.