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French state-owned energy company GDF Suez said on Friday it will rebrand as part of its strategy to manage the “profound” change in the energy sector.
The new name ‘Engie’ will better reflect the company’s interests in low carbon energy than its current name which is derived from the French ‘gaz de France’.
The company operates in 70 countries – including the UK where it holds a significant stake in the business energy supply market – and said in a statement that the global shift towards a low carbon, energy efficient reality prompted the change.
“The energy transition is now a global movement characterized by decarbonisation and development of renewable energy, reducing consumption through energy efficiency and the digital revolution,” a statement from the French-based company said.
It comes as the incumbent chief executive Gerard Mestrallet is set to step down after 20 years in the position, to be replaced next year by current deputy Isabelle Kocher.
The rebranding will begin with a ten week media campaign in France and Belgium.
A spokeswoman for the UK subsidiary was unable to say when the planned change will take effect in the UK, saying “it’s early days”.
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