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France Telecom CEO becomes French minister of finance
By Peter Sayer

Thierry Breton resigned as chairman and chief executive officer (CEO) of telecommunications operator France Telecom SA on Friday, to become minister of finance in the French government. On Sunday, the company's board of directors named his replacement: Didier Lombard, previously the company's senior executive president in charge of technologies, partnerships and new services.

Taking up the role of CEO, Lombard said he would continue to follow the strategy set out by Breton, of integrating the company's mobile and Internet businesses alongside its traditional fixed-line communications activities.

Lombard served the French government from 1988 to 1990, when he was technical and scientific director for the French Ministry of Research and Technology, and later became general director of industrial strategy for the Ministry of Industry, according to a statement announcing his appointment.

France Télécom, the former monopoly telecommunications operator in France, has a close relationship with the French government, which still holds 42.2 percent of its shares, according to the company.

Breton, appointed CEO of France Télécom in October 2002, is said to have already refused the job as head of the finance ministry once, in November. Then, the role was offered to Hervé Gaymard, whose resignation Friday was precipitated by a scandal over the use of public funds to rent an apartment for his family.

Posted February 28, 2005 04:57 PM |