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Orange: appointment of Jacques Aschenbroich as non-executive chairman

It’s official. The current chairman of Valeo, Jacques Aschenbroich, has been appointed non-executive chairman of Orange by the new board of directors of the telecoms group, which met Thursday in the wake of the general assembly, announced the business. The forced departure of Stéphane Richard, CEO of Orange since 2011, condemned in November in the Tapie/Crédit Lyonnais affair, had precipitated the appointment of a new management, within the framework of a governance dissociated between the general management and the non-executive chair.

Jacques Aschenbroich, whose candidacy had been supported in particular by the State shareholder, will form a tandem with Christel Heydemann, 47, who became general manager at the beginning of April. To complete the duo and go through with his four-year term as chairman of the group, Jacques Aschenbroich, 67, will necessarily exceed the age limit, which the company’s articles of association set at 70. This is why the board of directors of Orange presented Thursday to the general meeting an amendment to the statutes so that a mandate can end beyond the age limit.

After having indicated for a time that it wanted to vote against such a modification, the supervisory board of the employee shareholder fund FCPE Orange actions (6.6% of the capital and 10.02% of the voting rights) decided to support “by a majority vote”. the resolution for the appointment of Jacques Aschenbroich, he announced in a press release in mid-April. This resolution was adopted Thursday by the shareholders at more than 90%.

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