PARIS (Agefi-Dow Jones)–Following a meeting on Wednesday, the Orange board of directors proposed to entrust its chairmanship to Jacques Aschenbroich, for a period of 4 years, announced the operator. telecommunications in a press release.
Currently chairman of the board of directors of the automotive supplier Valeo, Jacques Aschenbroich will hold the same position at Orange from May 19, added the telecom operator. The appointment of Jacques Aschenbroich as chairman of the board of directors of Orange will have to be adopted by the group’s general meeting (GA), convened on the same date.
During this AGM, Orange will also submit to the vote of its shareholders a resolution proposing to push back the age limit for chairing its Board of Directors. And for good reason. As he turns 68 on June 3, Jacques Aschenbroich would reach the age limit currently set at 70 during his term of office, which would lead to his resignation from office according to the company’s current articles of association.
This resolution is controversial. In a joint statement sent earlier in March, the three trade unions represented on the supervisory board of FCPE Orange Actions, which groups most of the staff actions, unanimously rejected it. In another press release signed by CFE-CGC Orange, the company’s employee shareholders expressed their opposition to the arrival of a non-executive chairman who would exceed 70 years during his term of office. Reporting to the extraordinary general meeting, this resolution requires two-thirds of the votes.
Jacques Aschenbroich would lead Orange in tandem with Christel Heydemann, the future CEO, who will take office on April 4. The group announced the dissociation of its management functions after the resignation in November 2021 of its CEO, Stéphane Richard, following his conviction on appeal in the case of the arbitration process between Bernard Tapie and Crédit Lyonnais.
“I wish full success to the duo thus formed by Christel Heydemann and Jacques Aschenbroich. Two experiences and two energies at the service of the responsible development of this magnificent group which I am happy to have served with passion during these last twelve years”, said Stéphane Richard, CEO of Orange, quoted in a press release.
Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: ECH
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March 30, 2022 12:01 ET (16:01 GMT)