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French telecoms group Orange to appoint Valeo's Aschenbroich as chairman - Le Monde

Reuters
·1-min read
Logo of French telecom operator Orange in Levallois-Perret

PARIS (Reuters) - French telecoms company Orange has picked Jacques Aschenbroich, the chairman of Valeo, to become its next chairman, newspaper Le Monde reported in its Friday issue, citing a source close to the matter.

Orange declined to comment while Valeo did not immediately reply to a Reuters request for comment.

The nomination of Aschenbroich, 67, is due to be confirmed by a board vote on March 30 and will be submitted to shareholders during a general meeting scheduled on May 19, Le Monde added.

The move comes amid a wider governance revamp at Orange in which the French state holds a 13% stake. End January, the company named Christel Heydemann its new chief executive, making her the first woman to lead France's biggest telecoms operator.

Stephane Richard left Orange after a court convicted him of complicity of misuse of public funds.

(Reporting by Matthieu Protard, Benoit Van Overstraeten; Editing by Tassilo Hummel)