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French govt to reshuffle CEOs of France Telecom, Veolia-paper
January 21, 2013 / 11:00 AM / 5 years ago

French govt to reshuffle CEOs of France Telecom, Veolia-paper

PARIS, Jan 21 (Reuters) - The French government is working on a plan to replace the chief executive of France Telecom with the former head of nuclear reactor maker Areva , newsletter Lettre d‘Expansion reported without citing sources.

Stephane Richard, at the helm of France Telecom since March 2011, would then be sent to lead French water, waste, and energy company Veolia where Chief Executive Antoine Frerot has been struggling to sell assets to cut debt since taking over in 2009.

Anne Lauvergeon, who led Areva from 2001 to 2011, would then take over as CEO of France Telecom, the newsletter said.

A spokeswoman for France Telecom declined to comment on the report, and no one was immediately available for comment at Veolia.

The French state owns 27 percent of France Telecom so the choice of the CEO is typically made by the French President and then confirmed by the board. France also owns 87 percent of Areva and 9.2 percent of Veolia. (Reporting by Leila Abboud; Editing by Hans-Juergen Peters)

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