The CEO of France Telecom will keep their charge

The Board of the company maintains the Executive in his Office after the support shown by the French President.

The French State, the maximum the teleco shareholder, supports the Executive, that will keep the charge despite found in the middle of a judicial investigation.

Last week Justice pointed to Stéphane Richard, CEO of the operator after the Orange brand, by its possible involvement in the case Tapie, that investigates the role of the State in alleged illegal compensation from the employer. Richard was one of the first swords from the Finance Department during the tenure of Nicolas Sarkozy.

French President Francois Hollande has publicly expressed support for Richard until justice is pronounced. The Board of Directors of the operator will follow the example of the head of the French Government and will keep Richard in the position of CEO.

The French State has a share of 27% in France Telecom, which is the biggest operator in the country. The teleco is present in Spain through Orange.

Workers, who have 5% of the shares of the company, have also shown their support to Richard. Reactions among Union officials however have been in some cases contrary to the maintenance of the Executive, according to Bloomberg.

The France Telecom Board is deliberating the future of CEO

After the investigation into a possible case of fraud put up against the leader of the operator, its continuity in the mandate is in the air.

The future of the Chief Executive of France Telecom, Stéphane Richard, remains in suspense since last Monday came his pre-trial detention by a possible case of fraud during his time as an advisor.

The judicial investigation launched against Richard aims to clarify the role of the CEO in the case of arbitration between the entrepreneur Bernard Tapie and the French Bank Crédit Lyonnais.

We have studied the possible illegality of the compensation of EUR 403 million which charged Tapie.

The Board of France Telecom, the fourth largest group of telecommunications in Europe, whose 27% is still owned by the French State, will meet in the coming days to discuss the fate of Richard.

The verdict that the Government offer of President François Hollande probably will determine the outcome, while the State has only 3 of the 15 seats in the Executive, according to sources familiar with the management of the company have said to Reuters.

Digital economy, Fleur Pellerin, Minister said that the Government must decide "If the decision of the judge (to put it under investigation) is an problem so that Richard will remain in his post", and added that talks between the members of the Board are ongoing.

"It's rating if the judicial decision has disabled him," explained Pellerin.

For his part, Stéphane Richard has denied the accusations and France Telecom did not want to comment.

So far investors of the company have been taken calmly this issue, which does not seem to be too affected by the Group on the stock exchange.

France Telecom had just announced a new strategic step by adopting the Orange brand for all its operations. The objective is to become a global player in the digital age and to project its financial evolution.