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Head of French state holding agency asks to be replaced at Thales board
June 26, 2017 / 4:47 PM / in 5 months

Head of French state holding agency asks to be replaced at Thales board

PARIS, June 26 (Reuters) - The head of France’s state holding agency APE Martin Vial said on Monday he asked to be replaced at the board of Thales, following the nomination of his wife as defence minister.

“I will be replaced at Thales’s board of directors as state representative,” said Vial in an interview, in a move aimed at preventing conflicts of interest.

Defence and electronics company Thales is 26 percent-owned by the French state, via APE.

Vial also ruled out taking part in the management of APE-owned stakes in French defence companies, including planemaker Airbus, engine maker Safran, naval supplier DCNS and armoured vehicle maker Nexter.

French President Emmanuel Macron named Vial’s wife, Florence Parly, defence minister last week. Parly worked previously in a Socialist government and for major French transport companies.

Parly also resigned from the boards of French companies Altran, Ingenico, Zodiac Aerospace , a source close the minister said on Monday. (Reporting by Matthieu Protard and Mathieu Rosemain; editing by John Irish)

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