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French Government Has Chosen New EDF Boss, Minister Says

By Joshua Kirby

 

The French government has decided on a new leadership for utility Electricite de France SA and will make the choice public very soon, economy minister Bruno Le Maire told radio station France Inter on Tuesday.

"We have chosen the person," Mr. Le Maire said, adding that an announcement is imminent.

EDF will likely have a separate chief executive and chairman, according to the minister. "I think it's better for companies [to have separate functions,] and I don't see why that oughtn't to be the case for EDF," he said.

The company is set to be nationalized and taken private by the French state, which already holds a large majority of its shares, as the government looks to secure the country's energy supply amid turbulence exacerbated by Russia's invasion of Ukraine.

As part of the nationalization plan, current CEO and Chairman Jean-Bernard Levy will step down by March next year, the company said recently.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

September 27, 2022 04:49 ET (08:49 GMT)

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