The National Financial Prosecutor’s Office (PNF) has recently launched an investigation into suspicions of benefits provided by EDF (Electricity of France) to several of its former executives. According to a judicial source, these practices spanned many years and may constitute public fund misappropriation, a serious criminal offense.
The investigation began in 2024 after allegations were reported by the daily Libération. It targets EDF’s former presidents, including Pierre Gadonneix (CEO from 2004 to 2009) and Henri Proglio (2009-2014), both of whom were questioned as suspects this fall. François Roussely, another former leader who passed away in 2023, also reportedly received such privileges throughout his life, as noted by the newspaper.
Controversial privileges
EDF honorary presidents, a title reserved for the company’s former CEOs, are reportedly granted significant material benefits. These include, according to the judicial source, offices in prestigious Parisian neighborhoods, a car with a driver, and a dedicated staff member. However, the investigation reveals that these privileges were allegedly granted without board approval or regulatory framework to justify them.
These practices raise questions about their legitimacy. Libération suggests that some of these benefits were granted “for life,” significantly increasing costs for the company, which is majority-owned by the French state.
Nonexistent legal framework
The absence of a legal or regulatory framework justifying these allocations is at the heart of the investigation. Initial findings suggest that no official documentation validates these arrangements. EDF, when asked for comments, stated that it would not comment on the matter.
These revelations shed light on a system that might violate public enterprise management rules. The PNF aims to determine whether these benefits stem from mere generosity or constitute actual misappropriation of public funds.
Next steps in the investigation
EDF’s executive management director was heard as a witness last February, marking a key milestone in this case. The investigation, still ongoing as of today, is expected to conclude shortly, according to sources close to the matter.
It remains to be seen whether these investigations will lead to judicial proceedings or measures to strengthen transparency and governance within public enterprises.
