Domain Registration

The head of France’s nuclear power giant will step down as nationalization looms.

  • July 07, 2022

Jean-Bernard Lévy, the chairman and chief executive of Électricité de France, the French state-backed electricity giant, plans to step down before his term is up next year, the company said on Thursday.

The French government said the previous day that it would renationalize EDF, as the company is known, to give it more control to fix problems plaguing its nuclear power program and shield consumers from soaring energy prices. The French finance ministry also confirmed Mr. Lévy’s departure, which will take place as soon as a successor is appointed.

The state currently owns 84 percent of EDF’s capital. Élisabeth Borne, the French prime minister, told lawmakers in Parliament on Wednesday that acquiring 100 percent of the company was needed to ensure France’s energy independence.

Article source: https://www.nytimes.com/2022/07/07/business/the-head-of-frances-nuclear-power-giant-will-step-down-as-nationalization-looms.html

Related News

Search

Find best hotel offers