French group Gaztransport & Technigaz (GTT), which specialises in containment systems for the transport and storage of liquefied natural gas (LNG), has announced the appointment of François Michel as Chief Executive Officer. He succeeds Philippe Berterottière, who will remain Chairman, ending a unified governance structure.
The decision comes as GTT posted exceptional financial results in 2024, with revenue reaching €641mn ($695mn), a 50% increase compared to the previous year. This performance exceeded analysts’ expectations and marked the second-best commercial year in the company’s history.
A strategic shift in GTT’s leadership
Aged 46, François Michel will take office on January 5. A graduate of École Polytechnique and an engineer of the Corps des Mines, he began his career at Alstom before moving into public service. In 2009, he joined the French presidential cabinet as a technical advisor on public finances, later joining Saint-Gobain in 2012. Since 2022, he has served as Managing Director of Belgian company John Cockerill, a firm active in the production of electrolysers.
GTT stated that the new CEO will be responsible for “continuing the execution of the group’s strategy by reinforcing technological innovation and operational excellence,” while also supporting diversification efforts.
Strong profitability growth for the group
The year 2024 also saw a sharp rise in profitability. GTT recorded a net profit of €347.8mn ($377mn), up 73% year-on-year. This performance reflects sustained demand for LNG containment solutions amid global pressure on liquefied gas transport capacity.
The group, a key technology supplier for international shipyards, continues to benefit from an active order book, driven by growing infrastructure needs for LNG transport and storage.
