Jean-Bernard Lévy will not complete his term as head of EDF, scheduled for March 18, 2023, his 68th birthday. The government has decided to speed up his departure, while emphasizing that this is not a sanction. “The State and Jean-Bernard Lévy have agreed to launch the succession process now”announced the Ministry of the Economy in a press release. “I hope that the new management will be operational from the start of the next school year”said the Minister of the Economy, Bruno Le Maire, Thursday, July 7, on Europe 1.
At Bercy, it is estimated that a page is turning and that a new boss is needed without delay to launch the construction of six EPR 2 nuclear reactors and accelerate the development of renewable energies. The headhunting firm Heidrick & Struggles was commissioned to find candidates, the choice falling to the President of the Republic. This early departure of a few months is not linked, according to Bercy, to the remarks of Mr. Lévy, who had criticized the enormous contribution of EDF – more than 10 billion euros – within the framework of the tariff shield for avoid price spikes.
Mr. Lévy’s mandate ended in a paradox. He achieved the feat of serving two terms, an unprecedented longevity since the “historic” boss, Marcel Boiteux, but he leaves a company in great financial and industrial difficulty, while the group has benefited from 7 billion euros in recapitalization. in five years. EDF has accumulated setbacks, in particular the nightmarish site of the EPR in Flamanville (Manche), which Mr. Lévy will not be able to inaugurate: the reactor will not be connected to the network before 2023, at best.
Moreover, Mr. Lévy’s personality did not predispose him to bend easily. He first endorsed Mr. Macron’s plan to split the company in two, but this project called “Hercules” came up against many obstacles, both from Brussels and the unions. Since 2020, he has intensified his battle against the public authorities on the regulation of nuclear power – which obliges EDF to resell part of its nuclear electricity at a fixed price to its competitors. –, a subject which is still not settled and which continues to weigh on the accounts.
perilous situation
Avenue de Wagram, at the Parisian headquarters of EDF, the subject of the succession of Mr. Lévy occupies the minds. But the ideal profile is not easy to find. At Bercy, the State Participation Agency has been thinking about it for several months. It is emphasized that the future boss cannot be a foreigner – like Ben Smith at Air France-KLM – since nuclear power is an industry of sovereignty. But also that the remuneration, capped at 450,000 euros per year since 2012, does not meet the requirements of candidates for the management of a company as large as EDF – 84.5 billion in turnover, 167,000 employees. A handicap to find the best profile.
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