TOTAL Appoints New Chief Executive Officer

Thierry Desmarest

     Board of Directors of Oil giant TOTAL following the death of the CEO in plane crash, appointed Thierry Desmarest as the new Chairman, Board of Directors. The Board of Directors met today and paid homage to Chairman and CEO Christophe de Margerie, who died in a plane crash in Moscow Russia.

TOTAL made this kown today In a press release on their wesite......... 

"Following the recommendations of the Governance & Ethics Committee which met today, the Board of Directors made two unanimous decisions:

It named Thierry Desmarest Chairman of the Board of Directors. Mr. Desmarest is currently a member of the Board and Honorary Chairman of the Board.

It named Patrick Pouyanné Chief Executive Officer and President of the Executive Committee.  Until today, he was President of Refining & Chemicals and a member of the Executive Committee. After holding several important executive positions in the Upstream segment in France and internationally over the past fourteen years, Patrick Pouyanné successfully managed the transformation of the Refining & Chemicals segment.

Thierry Desmarest’s role as Chairman of the Board of Directors will conclude at the end of 2015 in accordance with the age limits stipulated in the Group’s bylaws.  The positions of Chairman of the Board of Directors and Chief Executive Officer will then be recombined.

Following the designation by the Central Works Council of a Board member to represent employee shareholders, which is scheduled for November 4, 2014, the Group’s Board of Directors will consist of fourteen members, including one employee shareholder representative."

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