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

01/22/2022 | 02:36pm EDT
FILE PHOTO: The logo of French telecoms operator Orange is seen a store in Paris

PARIS (Reuters) - Verizon Chief Revenue Officer Frank Boulben has written to the board of Orange withdrawing from the race to head the French telecom firm, Le Figaro reported on Saturday.

Sources told Reuters earlier this month that Boulben was one of three people on a shortlist of possible candidates. The others are Orange's Chief Financial Officer Ramon Fernandez and Schneider Electric's head for Europe, Christel Heydemann, who also sits on Orange's board.

Le Figaro wrote that Heydemann "seemed on track to succeed Stephane Richard" but that a board meeting to decide on the post has been moved from Monday to Jan. 28.

Earlier this month, financial daily Les Echos reported that finance minister Bruno Le Maire favoured Heydemann for the post.

The French state has a 23% stake in Orange and has the final say on who runs the firm.

Orange, France's biggest telecoms operator, said in November it would find a successor to its Chairman and CEO Stephane Richard by Jan. 31 after a Paris appeal court convicted him of complicity of misuse of public funds.

(Reporting by GV De Clercq; Editing by Catherine Evans)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ORANGE -0.65% 11.704 Real-time Quote.24.34%
VERIZON COMMUNICATIONS 0.80% 51.4 Delayed Quote.-1.87%
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Financials
Sales 2022 43 351 M 46 444 M 46 444 M
Net income 2022 2 815 M 3 016 M 3 016 M
Net Debt 2022 26 042 M 27 900 M 27 900 M
P/E ratio 2022 11,1x
Yield 2022 6,14%
Capitalization 31 118 M 33 339 M 33 339 M
EV / Sales 2022 1,32x
EV / Sales 2023 1,28x
Nbr of Employees 139 698
Free-Float 86,6%
Chart ORANGE
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Orange Technical Analysis Chart | ORA | FR0000133308 | MarketScreener
Technical analysis trends ORANGE
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 11,70 €
Average target price 12,18 €
Spread / Average Target 4,06%
EPS Revisions
Managers and Directors
Christel Heydemann Chief Executive Officer & Director
Ramón Fernández EVP-Finance, Performance & Development
Jacques Aschenbroich Non-Executive Chairman
Michaël Trabbia Executive Vice President-Technology & Innovation
Helle Kristoffersen Independent Director
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