The forced departure of Stéphane Richard, CEO of the French telecom giant since 2011, sentenced in November in the Tapie / Credit Lyonnais casehad precipitated the appointment of a new management, within the framework of a dissociated governance.
Its casting is almost complete: in addition to Christel Heydemann, ex-director of Scheider Electric aged 47, Jacques Aschenbroich, currently at the head of the automotive supplier Valeo, saw his candidacy for the post of president of Orange validated on Wednesday by the group board of directors. Supported in particular by the State, Orange’s largest shareholder, his appointment must still be ratified by the general meeting of shareholders, convened on May 19.
Age limit
Christel Heydemann was “associated with the whole process concerning the choice of the future president”, it was assured within the group, specifying that “everyone will play their role” in this future pair “solid and complementary” to the orange head.
But to complete his four-year term as president, Jacques Aschenbroich, 67, will necessarily exceed the age limit, which the company’s statutes set at 70. Orange’s board of directors will therefore submit to the general meeting an amendment to the articles of association so that a term of office can end beyond the age limit, the company announced.
