French Energy Giant’s Transformation Has Investors Asking: Where’s the Payoff?
- French utility’s returns have lagged other European rivals
- Government voices disappointment with company’s performance
Isabelle Kocher, chief executive officer of Engie SA
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
When Isabelle Kocher took the reins of Engie SA three years ago, her appointment was pitched as a “cultural revolution” that would rejuvenate the utility. The first French woman to run one of the country’s major companies would sell fossil fuel assets and invest the proceeds in renewable energy and sophisticated new services.
As she enters the final 12 months of her first term as chief executive officer, Kocher has delivered the plan, but not the payoff.