• Tue. Dec 7th, 2021

Orange: what to do with the action after the announcement of Stéphane Richard’s departure? – Boursorama


Nov 25, 2021

Stéphane Richard resigns from his position as CEO at Orange following a conviction for “complicity in the embezzlement of public funds” in the Tapie affair. (© F. Senna / AFP)

Sentenced in the Tapie affair, the CEO of Orange resigns from his post. An interim period will now open pending the arrival of a new boss who will have to meet many challenges. Our advice on the action of the telecom operator in this context.

CEO of the incumbent operator Orange Since 2011, Stéphane Richard, will leave his post at the end of January at the latest after his conviction on appeal in the controversial arbitration case between Bernard Tapie and Crédit Lyonnais.

His departure from the head of Orange will be effective from January 31, 2022. On the stock market, the operator’s title varies little following this announcement (-0.5%).

Many challenges

And now ? The board of directors “continues the research process initiated a few months ago in order to put in place the new governance of the group”.

The new strongman will face many challenges. For several years, the telecom operator has embarked on several activities in order to find new sources of growth. Banking (Orange Bank), the cloud, cybersecurity, not to mention the continued deployment of 5G in France.

But the results are slow in coming. In terms of activity, difficulties are accumulating for the incumbent operator. The lack of dynamism in France and the very competitive context in Spain – its second market – led the group to post a net loss of 2.6 billion euros in the first half of 2021.

Stéphane Richard has tried to restore dynamism to the Orange share price.

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