Posted Jul 22, 2022, 4:48 PM
Sabrina Soussan alone at the head of the “new Suez”. The general manager of the environmental services group, reconstituted on February 1 from the takeover of assets that Veolia had to sell to carry out its takeover bid on its competitor (the environmental business giant has de facto absorbed 60 % of the former Suez), is now preparing to also hold the chairmanship of the board of directors. In a press release published this Friday, Suez formalized this simplification of its governance, confirming information from “La Lettre A”.
Sabrina Soussan, a 53-year-old engineer by training, who returned to France after twenty years abroad – mainly on behalf of branches of Siemens -, will succeed, from 1er August, to Thierry Déau, the boss of the investment company Meridiam, co-shareholder at 40% of Suez.
The latter, who proposed the appointment of Sabrina Soussan, retains the presidency of the controlling holding company, Suez Holding SAS. Meridiam, an infrastructure specialist, shares the capital with the investment company GIP (also 40%), with a financial profile, and the Caisse des Dépôts (20%), the armed wing of the State.
Unanimously dubbed president of this trio of very diverse shareholders, Sabrina Soussan seems to have benefited from a debate between them on the governance of Suez but also from her successful handling of the “new Suez”.
According to concordant sources, Caisse des Dépôts has actively pleaded for an independent personality to chair the board and has even proposed several names in this regard.
At the same time, the general manager of Suez has therefore demonstrated, without delay, her ability to relaunch a disoriented social body, to implement a redeployment of the company, notably proceeding with the first key acquisitions, including that of a good part of the hazardous waste activity of the former Suez with Veolia.
Suez, which Sabrina Soussan wants to develop internationally, has also gained a foothold in South Africa. From now on, the company is particularly interested in the waste division of the former Suez in the United Kingdom, from which Veolia must separate in order to obtain the green light from the British authorities in charge of competition for its takeover bid (examination of the file has been extended until September 11). The leader must finalize her strategic plan, expected by the end of the summer. “His appointment simplifies governance,” said a source familiar with the matter.