MOSCOW (Pakistan Point News / Sputnik - 07th February, 2020) Engie's board of directors will not extend the mandate of CEO Isabelle Kocher after it expires in May, the French energy giant said Thursday.
"Following a decision-making process based on a detailed assessment of her tenure, the Board of Directors concluded that the further development of the Group's strategy required a new leadership," it said in a press release.
Francoise Malrieu, the chair of the appointments committee, said Engie would immediately begin vetting candidates for a new chief executive.
Kocher, 53, has headed the partially state-owned utility company since 2016. She will be succeeded by an interim management team headed by Claire Waysand.
