Areva clarifies leadership review

Friday, 7 January 2011 Areva chairman Jean-Cyril Spinetta has sought to clarify the company's review of senior executives. According to Spinetta's statement, a new procedure was issued following the council of ministers meeting of 3 August 2010 indicating that "the appointment, renewal and succession of senior executives shall be better anticipated by asking the competent committee of the Executive Board to prepare for them before the end of the second mandate of the persons concerned." The mandates of CEO Anne Lauvergeon as well as Luc Oursel and two other unnamed executive board mambers are due to expire in June this year. Spinetta noted: "This process in no way prejudges the recommendations that will be submitted to the shareholders of the company." Areva is over 90% owned by the French state, which gives President Nicolas Sarkozy the final word on its leadership. The committee will be composed of Spinetta, Francois David and René Ricol.