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    Latest news updates: Fed officials urge flexibility as bond-buying scheme is wound down

    Orange CEO Stephane Richard will leave the French telecommunications group by the end of January at the latest after being sentenced to a one-year suspended sentence for fraud unrelated to the company. It has become.

    A long-term legal story related to the time of work of the late Bernard Tapie and Richard’s government took a long time to serve executives in Orange, even though he was acquitted in a previous ruling. I did.

    However, the company said Richard, who is also the chairman, submitted his resignation at the board meeting on Wednesday. Mr Orange added that “a new governance structure has been appointed and will come into effect by January 31, 2022 at the latest.”

    Ten years later in that role, Richard was one of the longest-serving leaders in European telecommunications, leaving an era of turmoil and fierce competition within the sector. His mission was scheduled to end in May 2022.

    Richard had the ambition to chair, even though he had said he was ready to abandon his CEO job.

    The French Court of Appeals admitted that Richard had contributed to the fraud, but was guilty of contributing to the misuse of public funds in connection with Christine Lagarde’s previous position as Chief of Staff during his time as Finance Minister. It became. He was also fined € 50,000.

    Richard rejected the verdict and said he would appeal to the French Supreme Court. “In the process, the tariffs have shifted … This is completely incomprehensible and terribly unjustified,” he said in a statement.

    Latest news updates: Fed officials urge flexibility as bond-buying scheme is wound down Source link Latest news updates: Fed officials urge flexibility as bond-buying scheme is wound down

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