February 10 (Renewables Now) - French utility Engie SA (EPA:ENGI) has decided not to renew the mandate of its CEO Isabelle Kocher in a move it describes as “a step forward” in its transformation path.
The power group made the announcement on Thursday, explaining that the further development of its strategy required new leadership. Concluding the company needs to push forward its transformation efforts and deepen its strategy to become “a leader in the energy and climate transition," the board of directors has opted not to propose Kocher’s reappointment at the next shareholders meeting.
The company pointed out it has to enhance the growth potential of each of its activities, simplify its organisation and improve its business model in renewable energies and client solutions. Two challenges to address, which were described as critical, are how nuclear energy fits into the energy mix in Belgium, where Engie owns several reactors, and the same in France, but with natural gas.
Isabelle Kocher has been at the helm of Engie since 2016. Her mandate runs out in May 2020. After this date, general secretary Claire Waysand will act as interim CEO until the group finds its next leader.