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Business Patrick Pouyanné Replaces Christophe de Margerie as Total CEO


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French oil giant Total on Wednesday named Patrick Pouyanne as its new Chief Executive Officer after Christophe de Margerie was killed in Moscow when his private jet hit a snowplough on takeoff, according to WallStreetJournal.

Excerpt:

Total SA ’s board of directors on Wednesday named refining and chemicals head Patrick Pouyanné as its new chief executive, installing a company veteran to navigate the oil major through a period of sliding oil prices and uncertain politics in Russia, where it has made a large bet.

The move follows the sudden death of the French company’s Chairman and CEO Christophe de Margerie in a Moscow plane crash late Monday.

Total’s board, meeting in an emergency session Wednesday morning, approved a plan to separate the roles of chairman and CEO and to bring back former chairman Thierry Desmarest to resume that post.

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