Dassault Chair’s Abrupt Exit Follows Sharp Drop in Share Price

Dassault Systemes SE’s surprise replacement of its chairman comes amid a dramatic downward spiral of its shares, upending what was once the crown jewel of the family-controlled empire that sits at the heart of France’s defense industry.

The company announced over the weekend that Chief Executive Officer Pascal Daloz will take over as chair from Bernard Charles, 68, who cited “personal reasons” for his departure. The move follows a drop in the price of Dassault Systemes shares by about a quarter since the start of February and more than two thirds since the end of 2021.

The decline ...