Stéphane Richard has just been sentenced this Wednesday to one year of suspended imprisonment in the 2008 arbitration case between Bernard Tapie and Crédit Lyonnais.
From the outset, a board of directors was scheduled at 6 p.m. at Orange in order to decide on the future of its CEO.
Orange's board of directors “will draw the consequences” of the conviction of CEO Stéphane Richard, the Ministry of the Economy said on Wednesday in a statement sent to AFP.
"We take note of the court decision concerning Stéphane Richard" and "we are obviously attentive to the continuity of the good functioning of the company", adds Bercy.
"I put my mandate in the hands of the board of directors of Orange," said Stéphane Richard in a statement sent to AFP.
"The accusations of complicity in the embezzlement of public funds are without any foundation"
Stéphane Richard, whose mandate at the head of the operator comes to an end in mid-2022, expressed the “personal wish” to remain chairman of the group after this date, by dissociating the function of managing director. In 2018, the Minister of the Economy Bruno Le Maire had however warned that in the event of conviction, Stéphane Richard would have to resign his mandate, while the French telecoms giant has the State as its main shareholder, with more than 20% of the capital.
After a general acquittal in July 2019, the Paris Court of Appeal ruled on Wednesday that the arbitration, which had awarded 403 million euros to Bernard Tapie and has since been canceled in civil matters, was indeed "fraudulent" in this regard. that he was biased towards the interests of the businessman. Stéphane Richard, 60, who was at the time chief of staff to the Minister of the Economy Christine Lagarde, was found guilty of "complicity in the misappropriation of public property". “The accusations of complicity in the embezzlement of public funds are without merit and are not based on any evidence. I reject them completely and will appeal to cassation, ”he announced.
Stéphane Richard, a graduate of HEC and ENA, joined the Orange group in September 2009. He became CEO in June 2010, and finally CEO in February 2011.
Justice
Tapie case: Orange CEO Stéphane Richard sentenced on appeal to one year suspended prison sentence
Society
Lagarde trial: Stéphane Richard, his former chief of staff at Bercy, will not testify
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Bernard Tapie
Credit Lyonnais
Stephane richard
Society
Orange
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