Five years ago, Stephane Richard was charged with fraud at his time at the finance ministry of the government. Currently, he is the Chief Executive Officer of France Telecom. The board of the said firm meets today to determine whether or not Richard keeps his job after charges pressed against him.
If Richard is ousted, this will be the third change in France Telecom, the country's largest phone company. Stephane Richard went on top of the Paris based firm after Didier Lombard stepped down of office prior the ending of his term at the phone company.
Employee shareholders at France Telecom shared their support for Richard. However, much will depend on the vote of the state. This is because the state holds a 27% stake in the company making it its largest shareholder.
Much will depend on the vote of the state, which with a 27 percent stake is the company's largest shareholder. While employee shareholders have come out in support of Richard, the government has not shown its hand. A total of 15 directors sit at the French Telecom board.
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