Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 09 29T151032Z 1 LYNXMPEI8S0WW RTROPTP 4 EDF CEO | Business Express
View of the company logo of Electricite de France (EDF) on the facade of EDF's headquarters in Paris, France, July 7, 2022. REUTERS/Johanna Geron

Luc Remont proposed as new boss of French energy company EDF

By Tassilo Hummel and Elizabeth Pineau

PARIS (Reuters) – French President Emmanuel Macron has proposed Luc Remont as EDF’s next chief executive and chairman, said the Elysee presidential office, as France works on a full nationalisation of the struggling energy company.

Remont, currently a top executive at Schneider Electric , is set to steer the nuclear energy giant through its full nationalisation as it faces headwinds linked to outages at many of its reactors.

He will now be heard by lawmakers in France’s lower and upper chambers of parliament who still need to clear his nomination. Reports have said the French government was divided on whether or not to split up the roles of chief executive and chairman.

A parliamentary source told Reuters the votes will likely come in October. “It is important that EDF be stabilised quickly to tackle the autumn and winter ahead,” the source added.

Macron’s government this summer announced it would fully nationalise the debt-laden utility, which shoulders most of the country’s power needs and will be the centrepiece of an ambitious reactor construction programme.

EDF is currently rushing to get its fleet of nuclear power stations ready for the winter after it needed to shut down several reactors due to corrosion issues and safety checks.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Earlier this month, EDF also issued a new profit warning.

The pressures on EDF have added to Europe’s energy crisis, caused by Russia’s invasion of Ukraine.

Remont, who turned 53 this month, started his career at France’s defence procurement and technology agency, according to a biography on Schneider’s corporate website.

He was also deputy chief of staff to finance ministers for five years in the early 2000s during Jacques Chirac’s presidency.


(Reporting by Tassilo Hummel and Elizabeth Pineau; Editing by Michel Rose/David Evans/Sudip Kar-Gupta)


Recent Post: