PARIS (Agefi-Dow Jones)–The Minister of Economy and Finance announced on Thursday the launch of the succession process for Jean-Bernard Lvy as CEO of the electricity producer EDF.
“Jean-Bernard Lvy’s term as Chairman and Chief Executive Officer will end no later than March 18, 2023, given the age limit set by the company’s articles of association,” Bercy said in a statement. “In agreement with Jean-Bernard Lvy, the new Chairman and Chief Executive Officer of EDF could be appointed before this chance”, specified the Minister.
“Jean-Bernard Lvy will continue to perform his duties until the appointment of his successor by decree of the President of the Republic, after consulting the competent parliamentary committees and on a proposal from the board of directors of EDF”, added the minister.
In a separate press release, EDF’s board of directors indicated that it was aware of this decision. “In accordance with the applicable provisions, this appointment will be the subject of a proposal from the State Board of Directors”, added EDF.
In addition, the electrician’s board of directors has “taken note of the State’s intention to hold 100% of the capital of EDF and will provide all its assistance to achieve it, according to the methods adopted by the State. and in the interest of all stakeholders”.
During her general policy speech to the National Assembly on Wednesday, the Prime Minister, Elisabeth Borne, confirmed the State’s intention to hold 100% of EDF’s capital. The French State currently holds 83.9% of the capital of the electrician.
“This development will enable EDF to strengthen its capacity to carry out ambitious and essential projects for our energy future as soon as possible”, declared the Head of Government.
-Alice Dor, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
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July 07, 2022 02:24 ET (06:24 GMT)