Veolia CEO Says Ceding to Borloo Would Be Mistake, Monde Reports

Veolia Environnement SA (VIE) Chief Executive Officer Antoine Frerot said putting a politician at the helm of the waste and water utility would have been a “major error,” Le Monde reported, citing an interview.

Frerot made the comments when asked about reports that his predecessor, Henri Proglio, tried to install former environment minister Jean-Louis Borloo at the helm.

A “big majority” of the board of directors yesterday backed a strategy to restructure the company and retain Frerot as chief, the CEO said today at a press conference in Paris on 2011 results.

To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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