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Engie board set to appoint Catherine MacGregor as new CEO

Published 02/10/2020, 17:49
Updated 02/10/2020, 17:55
© Reuters. FILE PHOTO: Logo of Engie on the company headquarters at la Defense business and financial district

By Gwénaëlle Barzic

PARIS (Reuters) - French energy group Engie's (PA:ENGIE) board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC (N:FTI) as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters.

An Engie spokeswoman earlier confirmed media reports that a board meeting on Friday afternoon will designate a new chief executive officer.

Energy sector specialist Catherine MacGregor, 48, is a French national who currently heads Technip (PA:FTI) Energies (N:FTI) after having spent 23 years at Schlumberger (N:SLB). Her name only appeared in the media in the last few days but she is now firmly in the lead, barring last-minute changes, the source said.

Other candidates that have been considered include Engie President & CEO North America Gwenaëlle Avice-Huet, Saint-Gobain (PA:SGOB) deputy CEO Laurent Guillot, former Suez (PA:SEVI) deputy CEO Marie-Ange Debon and public transport group RATP CEO Catherine Guillouard, sources said.

Engie has been hunting for a new CEO since its board decided in February not to renew the mandate of Isabelle Kocher, at the time the only female boss of a blue-chip company in France, and to put in place an interim management team after months of boardroom infighting.

Sources said Catherine MacGregor will be tasked with accelerating the expansion in renewables and grids and to execute an ambitious asset sales programme.

Engie initially aimed to pick a new CEO in September but the selection process was delayed when water and waste management firm Veolia (PA:VIE) launched an unsolicited bid on Aug. 30 for the bulk - 29.9% - of Engie's 32% stake in Suez (PA:SEVI), a move Suez fiercely opposes.

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Engie on Wednesday welcomed a sweetened 3.4 billion euro offer ($4 billion) from Veolia for the stake and is expected to announce its final decision on Monday.

A source familiar with the situation told Reuters that Engie board chairman Jean-Pierre Clamadieu had organised a dinner on Thursday with Veolia CEO Antoine Frérot and Suez board chairman Philippe Varin, where the three discussed the bid in "a constructive spirit".

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