France Telecom's group deputy CEO departs

Amidst a raft of employee suicides, France Telecom as Louis-Pierre Wenes, the telco's deputy CEO, said he will resign from the
company today. Citing unhappiness with his respective work environment, another France Telecom employee committed suicide last week. Twenty-four France Telecom employees have commmitted suicide in the past eighteen months. The ongoing occurrence of suicides at France Telecom has prompted many French labor groups and political leaders to call for a change in the company's management team. France Telecom's CEO Didier Lombard accepted Wenes resignation.

Taking Wenes place will be Stephane Richard, a former adviser to France's finance minister, Christine Lagarde. Richard is set to take over the CEO post from Lombard in 2011.

Union leaders believe that the ongoing restructuring process of the former majority state-owned France Telecom that began in 1997 has led to employee discord. The French government currently owns a 27 percent stake in the service provider. Amidst calls for Lombard's resignation from labor groups and other political party leaders, Lagarde continues to stand by Lombard.  

For more:
- Market Watch has this article

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