Orange, the main telecommunications operator in France and one of the largest in Europe, has confirmed a CEO change. Behind the resignation of current Stephane Richard, not only as CEO of the group, but also as its President, the operator has announced that it will designate a new one at the latest for next January 31. Until the new CEO arrives, Richard will remain in his position.
The Orange Board of Directors has accepted Richard’s resignation after 11 years in office, which comes after the Paris Court of Appeal has found him guilty, for his involvement in the scandal known as the “Tapie case”, from complicity in the fraudulent use of public funds, condemning him according to Reuters to a year in prison that he will not have to serve, and to the payment of a fine of 50,000 euros.
Regarding the appointment of CEO, or CEO and President, the Orange Board has not made it clear if the new CEO will also be the President of the group, or if a person will be chosen for each position, with which they would be separated since then .
Richard himself, according to Europa Press, has confirmed his departure from the group, through a message on his Twitter account, in which he says goodbye to his team saying «To all of my beloved Orange team, who have shown me their support and affection today, I want to express my deepest gratitude, and the pride that I have felt throughout these eleven years as your captain, on good and bad days.«.
Richard has also sent a statement to the French media, in which he maintains that the accusations of complicity in embezzlement of public money for which he has been convicted «they are unfounded«, And has underlined that«are not based on any evidence«. The manager has confirmed that will appeal the verdict, but he has not waited to do so to present his resignation and leave the reins of the Orange Group.