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GDF Suez chief wants to extend mandate by a year-paper
July 3, 2014 / 11:01 AM / 3 years ago

GDF Suez chief wants to extend mandate by a year-paper

PARIS, July 3 (Reuters) - French energy group GDF Suez chairman and chief executive Gerard Mestrallet has asked the government to extend his mandate by one year but President Francois Hollande is not in favour of this, financial daily Les Echos reported on Thursday.

The paper said Mestrallet had also proposed the firm’s chief financial officer Isabelle Kocher as his eventual successor in the chief executive role.

“We respect all rules of good governance,” a GDF Suez spokesman said but declined further comment.

Nobody was available for comment at the government or at the president’s office.

Mestrallet, 65, has run GDF Suez since the 2008 merger between state-owned gas firm Gaz de France and water and waste utility Suez.

At the end of April 2012, the company’s shareholders renewed his mandate for four years and increase the age limit for the role to 67 from 65. A further year at the top of the company would require the age limit to be raised again to 68. At the end of his current term in April 2016, Mestrallet - born April 1, 1949 - will be 67.

The French state is GDF Suez’s leading shareholder with a 33.6 stake. (Reporting by Geert De Clercq; Editing by Andrew Callus)

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