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Boulben withdraws from race for Orange CEO post, le Figaro reports -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Orange logo is visible on the façade of a Paris store, France, 16 February 2021. REUTERS/Sarah Meyssonnier

PARIS, (Reuters) – Verizon (NYSE:), Frank Boulben (Chairman Revenue) has written to Orange resigning his race to lead the French telecom giant. Le Figaro reported that this was done on Saturday.

Sources revealed to Reuters that Boulben was among three candidates on a shortlist. Others include Orange’s Chief Financial Officer Ramon Fernandez (PA:), and Schneider Electric (PA.)’s head Europe Christel Heydemann who sits also on Orange’s board.

Le Figaro stated that Heydemann seemed on track to succeed Stephane Rich, but that the board meeting was moved to Monday Jan. 28 to discuss this post.

Financial newspaper Les Echos published earlier this month that Bruno Le Maire, finance minister, preferred Heydemann to the position.

Orange is owned by 23% of the French government. The French have final say over who manages the company.

Orange, France’s largest telecoms company, stated in November that it will find a replacement for Stephane Richard, its chairman and CEO, by January 31. This was after an appeal court in Paris convicted him of complicity with misuse of public money.

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