Jérôme Pécresse leaves his functions

Jérôme Pécresse, Vice President of General Electric's Renewable Energy Division, will be stepping down from his position.

Share:

Jérôme Pécresse, vice-president of the renewable energy branch of General Electric, will leave his functions, announced Monday the management of the American conglomerate.

“GE confirms the upcoming departure of its senior vice president Jérôme Pécresse, who has decided to devote himself to new projects,” said the management of General Electric France, confirming a report in the weekly Marianne.

Mr. Pécresse, a graduate of the Ecole Polytechnique, was the global head of the renewable energy business, which he managed for “almost ten years. He is the husband of Valérie Pécresse, president of the Les Républicains regional council of Île-de-France and unsuccessful candidate in the last presidential election.

Pécresse “led the process of integrating Alstom’s energy business sold to GE” in 2015, GE recalls. “In particular, he has spearheaded GE’s successful development in offshore wind, which will be a key pillar of GE Vernova,” the U.S. industrialist continued.

“I will leave my operational responsibilities at the end of September when the transition phase begins,” said Jérôme Pécresse in a letter to employees, seen by AFP.

“I am proud of the contributions we have made together to the renewable energy sector almost everywhere in the world,” he wrote, saying he was “convinced that the development of renewable energy around the world will continue to accelerate and that technology will push the limits.”

“The future of the French entities is in the hands of the Americans,” fears Philippe Petitcolin, CFE-CGC delegate (GE gas turbines). Mr. Pécresse could “pass the messages” but “now, France has no more interlocutors”, he added, seeing in the departure of the leader “a bad signal”.

“For us, he’s out,” smiles Alexis Sesmat, Sud Industrie delegate at General Electric’s gas turbine unit. “It was the only and last French interlocutor for Bercy. The last card of the French government has fallen”.

In Article 4 of the November 2014 agreement signed between GE and the French state when Alstom’s energy business was bought out, which AFP was able to consult, the company in fact undertakes “to propose to GE’s board of directors, after informing the state, the election to GE’s board of a chairman and CEO of leading French nationality.”

According to Alexis Sesmat, this announcement is made “in the direct line of the reorganization and the split of the group”.

At the end of 2021, General Electric announced a reorganization of its business, resulting in the splitting of its energy, medical and aerospace businesses into three.

“The center of gravity of the energy part is no longer in France but across the Atlantic,” says the union representative.

In the 2014 agreement, valid for 10 years, GE nevertheless commits to locating global centers in France.

Despite a sharp decline in sales and prices, Vallourec improved its profitability and issued an upward forecast for its gross operating income in the second half of 2025.
Eni announces a sharp decline in quarterly net profit, the result of lower oil prices and a weaker dollar, while maintaining a strengthened dividend policy and a development trajectory in renewables.
EDF is reassessing its industrial priorities and streamlining investments, as net profit falls to €5.47bn ($5.94bn) in the first half of 2025 due to a weakening electricity market.
Energy group Edison posts increased sales and investments despite a less favourable market environment, advancing its renewables development and strengthening its positions in Italy.
SEGULA Technologies opens an office in Cape Town, strengthening its presence in the African market and targeting expansion in energy, rail, and automotive sectors, in partnership with South African industrial firm AllWeld.
GE Vernova's revenue rose by 11% in the second quarter, driven by momentum in its Power activities, as the US group raised its financial targets for 2025.
The Allrig group is expanding its operations in Saudi Arabia, supported by AstroLabs, to boost energy efficiency and address the growing needs of the local oil sector.
Saipem and Subsea7 formalise their merger agreement, resulting in the creation of Saipem7, an international energy services player with consolidated revenue of €21bn and an order backlog of €43bn.
TotalEnergies reports a significant decrease in net profit and revenue for the second quarter, while relying on growth in its hydrocarbon and electricity production to sustain profitability and global ambitions.
Exus Renewables North America finalizes $308.2 million financing for two major solar portfolios in New Mexico and wind projects in Pennsylvania, showcasing the expansion of large-scale renewable assets across multiple U.S. markets.
Baker Hughes posted attributable net income of $701 mn in the second quarter, while executing several strategic transactions and strengthening its position in industrial technologies and oilfield services markets.
Equinor announces a 13% decline in adjusted profit for Q2 2025, driven by falling oil prices, despite rising gas prices and production.
Iberdrola launches a EUR5 billion (USD5.87 billion) capital increase to fund the expansion and modernization of its power grids in the UK and the US, while announcing a decline in its half-year profit.
Halliburton reports a 50% drop in net income and nearly a 6% reduction in revenue for Q2, with demand in North America remaining particularly weak.
The growth of data centres and artificial intelligence is putting unprecedented pressure on global electricity grids, prompting major tech companies to rethink their energy supply to address capacity and competitiveness challenges.
BP announces the appointment of Albert Manifold as chairman, succeeding Helge Lund. Manifold, former CEO of CRH, will join the board on September 1, before officially taking over the role on October 1.
Romanian company Electrica raised €500 million through the country's first green bond issuance, with participation from the European Investment Bank (EIB), to finance its renewable energy and storage projects.
Kem One and EDF signed a protocol agreement for a 10-year electricity supply contract, covering seven French industrial sites. The contract is expected to be finalised by the end of September 2025.
The Canadian energy solutions provider has received approval from the Toronto Stock Exchange to repurchase up to 10% of its float by July 2026.
The Marseille Commercial Court has validated Bourbon Group’s accelerated safeguard plans, paving the way for a debt reduction and shareholder transition by the end of 2025.