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.
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