PARIS – Jacques Aschenbroich, the former CEO of Valeo and now the supplier’s chairman, will become chairman of French telecom giant Orange, according to a report in French media.
The daily newspaper Le Monde, citing a source close to the matter, said on Friday that Aschenbroich’s nomination would be confirmed by the Orange board on March 30 and submitted to shareholders on May 19.
Orange declined to comment, while Valeo did not immediately reply to a Reuters request for comment.
Aschenbroich, 67, became CEO of Valeo in 2009. He was succeeded this year by Christophe Perillat but remained as chairman of the supplier’s board of directors.
Aschenbroich was named an Automotive News Europe Eurostar winner in 2016.
He worked in the French government in the cabinet of former prime minister Jacques Chirac before switching to the private sector. He joined Saint Gobain in 1988 and spent 20 years with the French conglomerate before joining Valeo.
The move comes amid a wider governance revamp at Orange, in which the French state holds a 13 percent stake. At the end of January, the company named Christel Heydemann its new chief executive, making her the first woman to lead France's biggest telecoms operator. She starts on April 4.
The previous CEO, Stephane Richard, left Orange in November 2021 after a court convicted him of complicity of misuse of public funds.
Reuters contributed to this report
