Paris (AFP)
The energy giant Total will bring its cash management from London to Paris, due to Brexit and costs, and also intends to adopt the status of "European company", announced Tuesday its CEO, Patrick Pouyanné.
"Total will bring its cash back to Paris," said the boss of the oil and gas giant at a conference organized by the European stock exchange operator Euronext in the French capital.
"There is Brexit at play ... there is also the fact that we have realized that ultimately there is a question of cost", he explained, also evoking an operational simplification. The transfer concerns around 60 to 70 people, cash operators and computer specialists, according to him.
Total had announced in 2013 the transfer from Paris to London of this activity - but also of its financial communication - then arousing political criticism and from defenders of the Parisian place.
"We are contributing to the signal that Paris is attractive," said Patrick Pouyanné on Tuesday. "We will also transform ourselves into a European society," he also announced. This change must still be approved by the board of directors and the shareholders' meeting.
This modification of the statutes, already adopted by groups like Airbus and Constellium, allows the company to carry out its activities in all the Member States of the European Union in a single legal form.
"From a strictly legal point of view it doesn't change much" but "I think it's good that the big European groups show their faith in Europe".
"For a long time from a social point of view there has been a European committee that has been working, for more than 15 years, we have made a lot of acquisitions in Europe, Maersk Oil, etc. so we have more and more 70% of the staff are in Europe ", underlined Mr. Pouyanné.
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