Orange proposed Jacques Aschenbroich as its new chairman, taking a further step in the process to split the two top roles at the France-based operator which were previously held by Stephane Richard.
As expected, the board approved Aschenbroich’s nomination as a director and chairman at a meeting yesterday (30 March), while shareholders are due to vote on the appointment at an AGM on 19 May.
Aschenbroich is currently chairman at French automotive supplier Valeo.
Orange also intends to modify its group statutes to allow its chair to remain in post beyond the age of 70. The change reportedly met with internal opposition but would benefit Aschenbroich as he turns 68 in June.
Christel Heydemann, who is due to take over from Richard as CEO on 4 April, expressed delight at the decision to propose Aschenbroich as the new chairman.
In a statement, Heydemann cited Aschenbroich’s “long experience on matters of governance”, international experience and “profound knowledge of industry” as being of particular benefit for Orange.
Furthermore, the board is to renew the mandate of Ramon Fernandez as delegate CEO after his current term expires on 4 April. The executive was reportedly on the shortlist of CEO candidates before Orange opted for Heydemann.
Richard resigned as chairman and CEO in 2021 after being handed a one-year suspended prison sentence related to his time as part of the French government, a ruling he intends to appeal.Subscribe to our daily newsletter Back