The current CEO of Orange was sentenced on Wednesday by the Paris Court of Appeal to one year suspended prison sentence and a fine of 50,000 euros in the Tapie case. The decision puts his future at the head of the operator at stake.
The decision fell. Stéphane Richard, the current CEO of Orange, was sentenced this Wednesday by the Paris Court of Appeal to one year suspended prison sentence and 50,000 euros fine for his role in the Tapie affair and the Crédit Lyonnais arbitration. The Court ruled that the operator’s boss, at the time chief of staff to the Minister of the Economy Christine Lagarde, had been complicit in the embezzlement of public funds.
The Court of Appeal therefore did not follow the court which, at first instance, had acquitted Stéphane Richard. On the other hand, the boss of the operator escapes the sentence required by the prosecutor, who had required three years in prison, two of which were suspended, and a 100,000 euros fine.
This decision puts the future of Stéphane Richard at the head of the Orange group at stake, while his current mandate expires in May 2022. Before the conviction, the businessman had already made it known that he wished to remain in charge, but “only” as chairman while leaving operational management to a general manager.
The conviction makes it more difficult to maintain it. Orange will hold a board of directors this Wednesday afternoon.
Stéphane Richard has just arrived. In the room there are more lawyers than public #arbitragetapie