April 22, 2014 / 6:25 PM / in 4 years

French treasury chief to join Orange as CFO - report

PARIS, April 22 (Reuters) - France’s treasury chief, Ramon Fernandez, is expected to join state-backed telecom group Orange as chief financial officer, according to the Wall Street Journal.

A person close to the matter earlier told Reuters that Fernandez, who has held the Treasury post since 2009, was likely to move to Orange but could not specify in what role.

Such a move, to the second most senior job at Orange, would underline the continued influence of the French government at the group. The state owns 27 percent of Orange and holds 3 of 15 board seats, so effectively chooses its chief executive officer.

Current boss Stephane Richard recently got backing for a second term at the helm of Europe’s third-biggest telecom group by sales, and the nomination is expected to be ratified by shareholders at an annual meeting on May 27.

A spokesman for Orange declined to comment on the report of Fernandez’s new role. (Reporting by Leila Abboud; Editing by Ruth Pitchford)

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