France Telecom's chairman Didier Lombard to step down from CEO post

Didier Lombard, the embattled chairman and CEO of France Telecom (NYSE: FTE) will formally resign as CEO during the service provider's board meeting at the end of this month.

Under the terms of the proposal he will submit to separate the CEO and chairman position, Lombard will continue in his CEO role at France Telecom where he will continue to oversee the service provider's strategic and technology direction.

Lombard told French newspaper La Tribune that even though his term isn't set to end until June, he believes that "after a year with a separate chairman and CEO that it would be better to not wait another half a year before France Telecom is again directed by a single chairman and CEO, Stephane Richard."

Following a rash of employee suicides, Richard had earlier called for Lombard to resign as CEO and Chairman of France Telecom.    

When CEO Delegate Stephane Richard formally becomes CEO, he will take over the day-to-day operations of France Telecom. Among Richard's several goals is carrying out France Telecom's five year plan, "Conquests 2015," that simultaneously focuses on expanding its customer base and fostering greater employee morale.   

For more:
- Telecompaper has this article

Related articles:
France Telecom's heir apparent wants Lombard to leave
Survey reveals employee discord at France Telecom
France Telecom names Stephane Richard to deputy CEO post
France Telecom - Top Telecom Turkeys of 2009
France Telecom sees 24th employee suicide
Current France Telecom CEO should resign, say political groups