Despite the conviction, Stéphane Richard finally maintained at the head of Orange?

Sentenced on November 24, 2021 in the context of the Tapie case by the Paris Court of Appeal to one year in prison and a 50,000 euro fine, Stéphane Richard announced his resignation in the process. During an extraordinary board of directors, the CEO of Orange then indicated that he would leave his functions, at the latest at the end of January 2022, the 31 a priori. Except that according to information from BFMTV, he might stay a little longer than expected. In question ? The desire of certain investors in the group to find names that convince them in order to occupy the positions of Chairman and CEO to replace Stéphane Richard (current CEO).

For now, three names have also emerged: Christel Heydemann, Ramon Fernandez and Franck Boulben. If the first is currently a director of Orange and the second CFO, Franck Boulben heads Verizon but has already gone through the group. But obviously, behind the scenes these names do not achieve consensus. The board of directors of January 24 must however bring out a name to take the post of general manager. Within the company, we are asking for more time, just like the Elysee Palace, a source told BFMTV who would like “better profiles”.

>> To read also – Orange: Stéphane Richard leaves the group by the end of January

Leaving in May?

So will the deadline be met? Stéphane Richard will he stay a few more weeks? It could well be that, for lack of consensus, Stéphane Richard will even go to the end of his mandate in May. As our colleagues recall, after the conviction of last November, the State had pushed for Stéphane Richard to leave his post at the end of 2021, which the board of directors did not want. He even pleaded for it to remain until the publication of the annual results for February.

On November 24, Stéphane Richard reiterated that he “totally rejected” the accusations and that he was going to appeal in cassation. He also declared that he wished to keep his place until the end of his mandate, before resigning. In 2018, Bruno Le Maire warned: in the event of a conviction, the CEO of Orange (of which the State is a 23% shareholder) should resign. “For all public enterprises which are under my responsibility as Minister of the Economy, the rules of the game must be clear: if the leader is condemned, the leader leaves immediately.” It could well be this time that Stéphane Richard extends. Answer maybe on January 24th.

>> To read also – Arbitration Tapie / Credit Lyonnais: 1 year suspended sentence for Stéphane Richard