Saturday, March 1, 2008

Eiffage will have a new boss before the summer

Jean-Francois Roverato should step down before June 25. Photo credits: Le Figaro
Half a dozen candidates to succeed Jean-Francois Roverato were interviewed.
Jean-Francois Roverato did not have to force its nature. For two months, chief executive of Eiffage, 3rd french construction group, returned on construction sites. It resumed service after the surprise resignation of its dolphin, Benedict Heitz, who took the reins in April. "JFR", as nicknamed his bodyguards, should step down before the next general meeting of the group on June 25, a few weeks ahead of schedule, he said yesterday during the presentation of annual results of Eiffage. The name of the candidate could be submitted in April to the Board.

The onerous task of hearing the contenders back to Amaury de Sèze and Serge Michel, independent directors of Eiffage. A half-dozen people, a priori to the group, have been received. "I remain voluntary withdrawal," said Jean-Francois Roverato, who would become chairman of the board.

2008 mešana
Until then, the tug-of-war between Eiffage and its biggest shareholder, the Spanish Sacyr, may be ancient history. On 2 April, the Court of Appeal of Paris will tell whether the group Luis Del Rivero should or should not launch a takeover bid for Eiffage as requested by the AMF, the french accusing the Spanish of acting in concert Iberian shareholders with 89. "I have never hidden that Sacyr go faster, I will be more content," said yesterday Jean-Francois Roverato, true to his frank talk.

Against the backdrop of political mediation, the two men were received at the Elysée on January 14. Jean-Francois Roverato then refused the proposal from Spanish to exchange its shares in Autoroutes Paris-Rhin-Rhone against a withdrawal of Sacyr. He also ruled out buying the participation of Spanish, but did not deny the role of facilitator from institutional french under a withdrawal of Sacyr. "We look forward with serenity court decisions," concluded the CEO of Eiffage, which is preparing for a less dynamic year 2008, several major projects of the group that would begin next year. Prospects mešana despite strong results that have hurt the title Eiffage yesterday.

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