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Orange CEO says he wants a second term
[March 24, 2014]
PARIS (Reuters) — Orange <ORA.PA>
boss Stephane Richard has said he should be given a
second term as chief executive of the state-backed
telecom group despite an ongoing investigation of his
role as a government aide in a 2008 arbitration case in
which the state awarded a large payout to businessman
Bernard Tapie. Richard, who at the time of the arbitration was a senior Finance Ministry official, has repeatedly denied wrongdoing. |
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The Orange board is expected to meet on March 26
to decide if Richard will continue in his duties. The French government, which owns 27 percent of the company,
Europe's fourth biggest telecom operator by sales, effectively
names the CEO of Orange and nominates three of its 15 directors. "It is up to the board to decide ... I am clearly a candidate
for a renewal of my mandate because I believe I can be useful to
the company, and my motivation to serve the company is greater
than ever," Richard told the French daily Les Echos in an
interview. "In fact, the question is: should we destabilize the group at a
time when the sector is in turmoil for reasons that have nothing
to do with Orange? The majority of the staff and of shareholders
would not understand it," he added. (Reporting by Dominique Vidalon; editing by Kevin Liffey) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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