Orange confirms Aschenbroich as chairman

Telecom giant Orange has confirmed Jacques Aschenbroich as its new non-executive chairman following its AGM, replacing Stéphane Richard who combined the chairman and CEO roles at the service provider.

Jacques Aschenbroich

The AGM also saw the election of Aschenbroich and Valérie Beaulieu-James as independent directors.

Jacques Aschenbroich was elected non-executive chairman of the group’s board of directors at a board meeting after the AGM.

The board also confirmed Christel Heydemann in the role – also formerly occupied by Richard – of CEO and Ramon Fernandez as deputy CEO.

Aschenbroich is also chairman of the Board of Directors of Valeo and previously served as CEO of the Valeo Group from March 2009 to February 2016, before serving in the double capacity of chairman and CEO until January 2022.

Stéphane Richard

Orange’s shareholders meanwhile very narrowly passed a compensation package for executives for the current year.

Outgoing chairman Richard previously declined to accept an exceptional compensation package of €475,000, or four months’ salary, which was offered in the absence of a retirement plan, but which was heavily criticised by shareholders.

Richard, who was forced to quit Orange after being convicted for complicity of misuse of public funds related to France’s Tapie affair, has meanwhile joined US investment bank Perrella Weinberg Partners as a partner, joining the outfit’s Paris office headed by David Azéma, a friend and fellow graduate of the Ecole Nationale d’Adminstration.