France Telecom Chief Richard Unveils Five-Year Plan for Networks, Morale

France Telecom SA unveiled a four- part, five-year plan aimed at reviving morale and putting Chief Executive Officer Stephane Richard’s stamp on the company.

The plan combines a mix of new and previously announced goals including a doubling of revenue from emerging markets and a two-billion euro investment in the domestic fibre network. Richard presented the strategy to reporters in Paris today.

France Telecom is looking for new direction after a series of suicides rocked the company and hastened the replacement of former CEO Didier Lombard. In April, Richard said the company would spend as much as 7 billion euros ($8.8 billion) on deals in Africa and the Middle East to boost emerging-markets growth.

“The group has set its sights on rekindling a spirit of conquest in its international development,” the company said in a statement. No “transformational” acquisitions are planned.

France Telecom shares rose 0.4 percent to 14.26 euros at 11:53 a.m. in Paris

To contact the reporter on this story: Matthew Campbell in Paris via mcampbell39@bloomberg.net.

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