March 21, 2019 / 12:04 PM / a month ago

French Finance Minister slams pay deal for outgoing Technip boss Pilenko

PARIS, March 21 (Reuters) - French Finance Minister Bruno Le Maire on Thursday slammed a bonus payment deal for TechnipFMC’s outgoing chairman Thierry Pilenko, given recent losses racked up at the oil services company.

“When I turn on my radio this morning to learn that the head of Technip is going to leave with a bonus even though he is leaving losses behind him, no-one can understand that type of behaviour. That type of behaviour is unacceptable,” Le Maire told a business conference held at the French parliament.

In February, TechnipFMC reported losses for the fourth quarter.

TechnipFMC was formed in 2016 by the merger between French company Technip and its U.S. peer FMC.

Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta

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