Engie top woman Kocher leaves with 3.3 million euros

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Isabelle Kocher receives a total of 3.3 million euros on her departure as the CEO of the French energy group Engie. This was apparent from financial documents that were published on Tuesday.

The board of directors approved a preliminary agreement on Monday about the departure of Kocher. This includes an amount of 1.9 million euros, which includes a non-compete obligation. In addition, Kocher will receive 1,399 million euros gross as damages for the termination of her contract.

According to Engie, the total amount respects the ceiling provided for in the French Code of Corporate Governance. The shareholders still have to approve the preliminary agreement in May.

At the beginning of February, the board of directors of Engie decided not to renew Kocher’s mandate. Normally she would stay until May, but it was announced on Monday that she was leaving with immediate effect. Especially the missed opportunities for takeover, and also bad relationships with Belgian contacts killed her. General secretary Claire Waysand was appointed as interim CEO.



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https://www.standaard.be/cnt/dmf20200225_04864628

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