Speculation is rife in France that the head of Europe’s biggest power generator, and the world’s biggest atomic operator, is set to be replaced.
The board of state-controlled EDF (Euronext: EDF) will replace CEO Henri Proglio with Thales CEO Jean-Bernard Levy when it meets on Thursday according to a report in Bloomberg.
Proglio has been at the helm of the 84 per cent state-owned EDF since 2009. Proglio has presided over an agreement to develop an atomic plant in the U.K., resolved a financing deficit for renewable energy and embarked on an investment plan for aging French reactors as well as developing new reactors in France and China.
EDF spokeswoman Carole Trivi declined to comment ahead of the board meeting but the Bloomberg report says insiders stated that the decision came from President Francois Hollande.
Hollande and Proglio had clashed over the former’s decision to reduce the share of nuclear power in France.
Levy took charge of Thales, Europe’s biggest defense electronics company, almost two years ago. He is a graduate of Ecole Polytechnique, one of France’s top engineering schools.