Engie Nominates New Chairman

French gas and power group Engie said on the evening of February 13 that its board met and decided to appoint Jean-Pierre Clamadieu, CEO of Belgian chemicals group Solvay, as board member to replace Engie chairman Gerard Mestrallet.

Mestrallet has been with Engie, and one of its predecessor companies Suez, for a total of 23 years.  Isabelle Kocher retains her position as Engie CEO.

The French government, as 24.1% shareholder in Engie, gave its blessing to Clamadieu's appointment February 12. The motion to appoint Clamadieu to succeed Mestrallet on the board will go to an Engie shareholders vote on May 18, and if it approves, the board will appoint Clamadieu as its new chairman. Engie's board also acknowledged Mestrallet’s resignation from his director position, effective at the close of that May 18 meeting. 

The French state, which has reduced its stake in Engie’s share capital, announced that it would turn one of its five board member seats back to the board, which on March 7 will choose a new independent board member who will be submitted for approval at the May 18 meeting. Mestrallet was appointed to the title of Engie honorary chairman.