The Orange Board of Directors has decided to open the succession to Stephen Richard, who remains in place until January 31, 2022.
“I couldn’t imagine staying in this job for a second”. Orange CEO since 2011, convicted in the controversial arbitration case between Bernard Tapie and Crédit Lyonnais, Stephane Richard clarified Thursday that he “totally acceptable” The decision of the operator’s board of directors that decided to replace it. We are often criticized as business leaders for wanting to hold on to our positions. In my personal case, it is clear that when such a decision is made, I cannot remain in my position, and I have not objected to it.”, said Stefan Richard in France Info.
His tenure as group president initially ended in mid-2022.It will become effective from the date of the establishment of a new system of government and no later than January 31, 2022, the company announced on Wednesday evening, adding that Mr. Richard continued to exercise his duties until this departure. If he has drafted a file “Personal wish” By remaining the group’s president at the end of his third term, by giving up the CEO job, he shattered his ambition by being convicted by the Paris Court of Appeal of a one-year suspended prison sentence and a fine of 50,000 euros.
In 2018, the Minister of Economy, Bruno Le Maire, warned that in the event of conviction, Stéphane Richard would have to hand over his mandate, while the French telecom giant considers the state the main shareholder, with more than 20% of the capital. “For all public institutions that fall under my responsibility as Minister of Economy, the rules of the game must be clear: if there is a conviction of the director, there is an immediate departure of the director”Mr. Le Maire said.
After a public acquittal in July 2019, the Court of Appeal ruled on Wednesday that the arbitration, which awarded €403 million to Bernard Tapie and has since been overturned in civil cases, was indeed “con man” In that it is biased to the interests of the businessman. Stephane Richard, 60, who at the time was chief of staff for Economy Minister Christine Lagarde, was convicted of complicity in the embezzlement of public property.
Richard “Trust betrayed” by Mrs. Lagarde His “mysterious actions”, announced the President of the Court, Sophie Kleiman. “The damage done to the state is enormous because of the misappropriated amounts and the lack of credibility thrown up by the behavior of the accused in public service.”. from «Accusations […] without any basis” and “on the basis of no evidence”Mr. Richard, who announced his appeal, denounced the cassation.
“Unapologetic pop culture trailblazer. Freelance troublemaker. Food guru. Alcohol fanatic. Gamer. Explorer. Thinker.”