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EDF will replace its current chief executive Henri Proglio with the head of electronic systems provider Thales.
Jean-Bernard Levy is expected to be formally nominated for the role today with the approval expected at EDF’s annual general meeting next month.
Levy will step into the role held by Proglio for the past five years as head of EDF Energy’s parent company, bringing stability to the group after months of speculation over Proglio’s future with the company.
However, industry analysts at Citigroup believe further uncertainty persists for the company ahead of key negotiations with the French government.
“The fact that the new CEO comes from outside the energy industry means that he will need to have an extremely steep learning curve. It is also uncertain what that appointment means for the other senior positions within the group,” an analyst not from Citi said.
“On the positive side though, we would note that Jean Bernard Levy comes from the private sector and is not just a political appointee and his track record both at Thales and at Vivendi has been largely well received by the investment community,” Citi added.
Levy served as chief executive of Thales since December 2012. Ten years prior to this he was appointed as the chief executive of media and communications company Vivendi before becoming chairman of the board in 2005.
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