Tuesday, May 12, 2015

Henri Proglio: “Bercy works like a hedge fund” – The World

The economy minister, Emmanuel macron, asked Henri Proglio to abandon his directorship of two subsidiaries of Russian Rosatom.

Dramatic turn of Thales! Then Henri Proglio were to be appointed chairman of the board of the electronic and defense group at the end of a general meeting held Wednesday, May 13, the former boss of EDF announces that it throws the sponge. “I have had enough humiliation” says to World Mr Proglio, accusing Bercy to fuel a campaign against him that his arrival had been approved by the Elysee. At 65, Mr. Proglio does not intend to let walk all over you and wants to “tell [his] truth” after six months of silence.

The question is whether this renunciation will challenge the shareholders’ agreement negotiated in 2009 between the State, owner of 26.6% stake in Thales and Dassault Aviation, which owns 25.3% of the group . The appointment of Mr. Proglio alongside Patrice Caine, current CEO of Thales, had indeed led to lengthy negotiations between the two actors. A penknife in relations between the state and at the time the Dassault Rafale landed its first contracts for export.

Why do you give up eventually as President of Thales?

I made a rational decision. I was not a candidate for this post, it picked me. Besides, I had first refused this proposal before accepting last December, at the request of the Dassault family and his representative, Charles Edelstenne. Since then, I thought the case heard since the State reiterated three times its agreement, by the voice of Francois Hollande [the president] Valls Manual [Prime Minister] and Jean-Yves Le Drian [Minister of Defense] . Now, I’m dirty for weeks by a campaign fueled by Bercy. At one point, I said enough is enough

This renunciation is he due to your refusal to give up your directorships of two subsidiaries of Russian Rosatom like! the claims Emmanuel Macron, the Minister of the economy?

But I do not have to give up anything! For forty-five years, I work for my country, I am a true patriot, I never betrayed France. This story is an alibi. My lawyer, M th Mignard, demonstrated that there is no conflict of interest. This is ridiculous and laughable. Behind all this history, we try to bring down a man for political considerations. Since former President appointed me as head of EDF, was told Sarkozy. I defy anyone to successfully classify me politically, I am primarily a business man

Read also:. Thales: the “friendships” Russian Henri Proglio ail Bercy

But working for the Russians is it possible today, given the political situation?

Stop any activity with the Russians would be a nonsense. Even the Americans have not ceased their economic relations with the Russians. Having good contacts in Russia, is that it is troublesome to do business? The teams of Thales had also asked me to lead a delegation to St. Petersburg this year. Some in France consider Russia a pariah country. I do not share this opinion.

Yet the minister of the economy seems to question your title of Honorary President of EDF given your relationship with the Russian Rosatom …

As president of EDF, I suggested that we strengthen links with Rosatom [Russian Atomic Energy Agency] to rebalance the partnership with the Chinese. It was a beneficial relationship for EDF and remains so today. I too loved and defended the company to do anything against it. It would deny myself, EDF teams know. Of all the former presidents of EDF, I’m the one who is asked to account.

Do you have discussed with Emmanuel Macron?

For months, I have had no contact with Bercy. Again, I disagree with the method. I blame those responsibilities of lacking courage and respect. I remind you that the government waited until the eve of my Renewal at EDF to warn me at 7 in the morning that he had changed his mind and I had to leave! As Bercy speaks to me in the press, I do the same. We must stop to take me for a clown, a spy, a glutton, a traitor … I’m tired of suspicion, of humiliation. This is not how I understand democracy in my country. I’m not from politics, but I have values. For me, a word is a word, there is no return on it.

You were yet ready to make an effort on your earnings

On this question, I’ve never claimed. I am given to Thales Compensation Committee. I was told it would be EUR 360 000. It must finally be EUR 140 000, which I had accepted. I only expressed my displeasure because, again, we did not respect the word. It was not a question of amount.

Your decision can it challenge the shareholders’ agreement linking the State Dassault, Thales?

We must ask Charles Edelstenne, I warned my renunciation and who understands. But, in my opinion, this pact is broken, if not in form, at least in spirit. Relations were already cold, they are not about to warm up. It should nevertheless relativize my function: it was a non-executive position. The Director General, Patrice Caine, remains at his post. I was also very happy to work with him. It’s a mess. It’s six months of lost work. Once again, the 61 000 employees of Thales will not understand it. But that does not interest Bercy, which operates today as a hedge fund [hedge fund] , more concerned the share price and employees. All this makes me sad for Thales teams

Read also:. The bet of a duo at the head of Thales

What lessons do you draw from this episode?

I realize that these are now anonymous, in Bercy, who run France. When I was at EDF, I alerted my guardianship on the situation of Areva, lucidly considering that the company will in the wall. I had also called for a rapprochement with China in nuclear power. I have heard in either case. I had the feeling to preach in a vacuum. Curiously, since I left, my analysis shows Bercy …

Do you feel bitterness?

It’s not my type, I n ”m not used to victimize me … Even if the position of Bercy is incomprehensible, I will not spend my life wondering about the soul of each of the other states. He was not born one who will kill me!

What will you become?

I’ve always been a free man, nobody scared me. I will return to the private. I can work for other European and international companies as I began to do so. But France is my country and I will continue to serve as best I can.

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