By Sonia Amaral Rohter
Engie SA (>> Engie) said on Tuesday that it has decided to appoint Jean-Pierre Clamadieu to succeed Gerard Mestrallet as chairman of the board of directors.
Mr. Mestrallet, Engie's founder, is resigning his director position.
The motion naming Mr. Clamadieu chairman will be put to a vote at the company's next shareholder's meeting on May 18. Mr. Mestrallet's resignation will be effective at the close of the shareholder's meeting.
Mr. Clamadieu is currently chief executive officer of Solvay SA (>> Solvay).
Following Engie's decision, Solvay said Mr. Clamadieu would remain CEO of Solvay "while assuming his future non-executive position at Engie."
"We are now accelerating the process to identify Jean-Pierre's successor to pursue the successful strategy that we launched a few years ago," said Nicolas Boel, Solvay's chairman. "We appreciate Jean-Pierre's commitment to facilitate a smooth transition."
Engie also said that the French state, which reduced its stake in the company, would turn one of its five board seats back to the board.
Write to Sonia Amaral Rohter at email@example.com