# Orange’s board selects three candidates for new CEO – sources Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-01-07 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Orange CEO finalist shortlist revealed by sources Meta Description: France's Orange telecoms firm narrows CEO options to 3 candidates, including CFO Fernandez & Verizon's Boulben, after Richard's pending URL: https://financedigest.com/oranges-board-selects-three-candidates-for-new-ceo-sourceshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-01-06t203939z2lynxmpei050ucrtroptp4orange-governance-1-1736836473626-compressed.jpg) By Mathieu Rosemain PARIS (Reuters) – The search for a new CEO at France’s state-controlled telecoms firm Orange has boiled down to a shortlist of three people chosen by a dedicated selection committee, two sources close to the matter said. The committee, composed of three board members, selected Orange’s Chief Financial Officer Ramon Fernandez, Schneider Electric’s head for Europe Christel Heydemann — who also sits on Orange’s board — and Verizon’s Chief Revenue Officer Frank Boulben. French newspaper Liberation was first to [report the information](https://www.financedigest.com/kings-secure-technologies-adopts-agile-flexible-cloud-reporting-access-granular-real-time-financial-information.html "Kings Secure Technologies Adopts Agile and Flexible Cloud Reporting for Access to ‘Granular Real-time Financial Information’"). Reuters was not able to immediately reach for comment the three people [named as candidates after normal business](https://www.financedigest.com/why-do-the-famous-names-in-business-rely-on-mentors.html "Why do the famous names in business rely on mentors?") hours. Orange, France’s biggest telecoms operator, said in November it would find a successor to its [Chairman and CEO](https://www.financedigest.com/novartis-names-firmenich-ceo-as-chairman-designate-of-sandoz-2.html "Novartis names Firmenich CEO as chairman designate of Sandoz") Stephane Richard by Jan. 31 after a Paris [appeal court](https://www.financedigest.com/tesco-wins-appeal-in-trademark-fight-with-lidl-in-uk-court.html "Tesco wins appeal in trademark fight with Lidl in UK court") convicted him of complicity of misuse of public funds. The court’s verdict, which handed Richard a one-year suspended [prison sentence](https://www.financedigest.com/belarus-sentences-in-absentia-former-olympian-herasimenia-to-12-years-in-prison-belta.html "Belarus sentences in absentia former Olympian Herasimenia to 12 years in prison – BelTA"), has precipitated his departure from the group, which he has led for 11 years. He has denied any wrongdoing. Orange’s plan is to find both a new chairman and a new [CEO by the end of the month but the tight time schedule may make it difficult for the company](https://www.financedigest.com/in-listening-mode-new-bayer-ceo-keeps-open-mind-on-company-split.html "In listening mode, new Bayer CEO keeps ‘open mind’ on company split") to replace Richard has head of the board by that time, one of the two sources said. The selection was made in collaboration with head-hunter Spencer Stuart, which was hired by Orange’s board. Yet this whole formal [process might be ignored by the French](https://www.financedigest.com/li-cycle-to-build-french-battery-processing-facility.html "Li-Cycle to build French battery processing facility") state, which keeps sway over key governance appointments with its controlling 23% stake. The [French presidency has in effect the power](https://www.financedigest.com/first-winter-cold-snap-tests-french-power-grid.html "First winter cold snap tests French power grid") to appoint another candidate than the ones put forward by the selection committee. (Reporting by Mathieu Rosemain; Editing by Lisa Shumaker) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---