Engie: Isabelle Kocher to leave in May 2020?
(CercleFinance.com) - The French State appears to have decided to replace Isabelle Kocher as CEO of Engie, although she is not expected to leave until Engie's next AGM in May 2020, Les Echos says this morning.
The state would not want to give credit to the scenario of dismantling the former GDF Suez through the sale of gas infrastructure (GDRF, GRTgaz), say analysts at Invest Securities.
The authorities also want to convince employees that there is no plan to dismantle the group, Aurel BGC says. They would like to give the board time to find a successor.
Unlike top management, the board would like to split the gas infrastructure of the former GDF to simplify the group, like its European peers. This could potentially increase the share price, which remains low at present.
Engie's board of directors are due to meet again on 17 December, and this could prove to be "decisive".
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