PARIS – French telecoms company Orange has picked Jacques Aschenbroich, the chairman of Valeo, to become its next chairman, newspaper Le Monde reported in its Friday issue, citing a source close to the matter.
Orange declined to comment while Valeo did not immediately reply to a Reuters request for comment.
The nomination of Aschenbroich, 67, is due to be confirmed by a board vote on March 30 and will be submitted to shareholders during a general meeting scheduled on May 19, Le Monde added.
The move comes amid a wider governance revamp at Orange in which the French state holds a 13% stake. End January, the company named Christel Heydemann its new chief executive, making her the first woman to lead France’s biggest telecoms operator.
Stephane Richard left Orange after a court convicted him of complicity of misuse of public funds.