Patrick Jeantet dismissed after ‘significant strategic differences’

 

 
Patrick Jeantet has been dismissed as executive chairman of Keolis with immediate effect.

He had only been in post at the French transport group since February 1.

Jeantet’s appointment at Keolis was announced in November, where he succeeded Jean-Pierre Farandou, who in turn had left to join French state rail operator SNCF as president.

However, Jeantet had previously worked at the group; between 2005 and 2013, he was deputy chief executive of Keolis’s international business and then chief executive of its operations in France.

He left in 2014 to join Groupe Aéroports de Paris as chief operating officer before moving in May 2016 to rail infrastructure controller SNCF Réseau as chairman and chief executive. He was also appointed as deputy chairman of the SNCF executive board.

Rumours have circulated over Jeantet’s management style in recent weeks, which has been described as “autocratic” by informed sources. However, Keolis has only confirmed that “significant strategic differences” had emerged since Jeantet’s appointment.

Keolis says a supervisory board oversees its executive board, of which Jeantet was the only member. This supervisory board adjudicates on a certain number of strategic decisions.

Keolis’ two shareholders, SNCF and Caisse de dépôt et placement du Québec, asked the chairman of the supervisory board to convene an exceptional meeting on June 2 to deliberate the dismissal of Jeantet.

After some deliberation, the meeting decided to terminate “all of Patrick Jeantet’s mandates”.

The two shareholders have reaffirmed their commitment to the group, its customers and employees.

Meanwhile, Keolis says it has formed an executive committee to oversee the business pending the appointment of a successor.

 
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