Gadonneix Loses His EDF Board Seat, CEO Successor Not Disclosed

French Utility giant Electricite de France SA (EDF) hasn't reappointed Chief Executive Pierre Gadonneix to the board, a company statement issued late Sunday shows.

The move appears to force Gadonneix into departing as head of the state-controlled company.

Gadonneix's departure from the company has been long speculated on, and was confirmed earlier in the day by French prime minister Francois Fillon and Finance Minister Christine Lagarde.

Meantime, Henri Proglio, CEO of French environmental services group Veolia SA (VE), was reappointed to the six-member board. Proglio has been speculated as being the odds-on favorite to succeed Gadonneix.

EDF's communique, issued after a meeting of the board of supervisors, didn't disclose the identity of Gadonneix's successor. It just listed the names of the six board members chosen.

But Agence France Presse, after the board meeting, cited informed sources as saying Proglio has been selected as the EDF's new head.

The company also said it has called an extraordinary meeting of shareholders for November 5 to vote on the board nominations.

Company web site: www.EDF.com

-By A.H. Mooradian, Dow Jones Newswires, [phone]; [e-mail].