TotalEnergies Board Backs Strategy, Proposes Extension of CEO Mandate
By Dominic Chopping
TotalEnergies said a board review has backed the company's strategy to focus on oil, gas and electricity production, adding that it would propose an extension of Chief Executive Patrick Pouyanne's tenure.
The French oil-and-gas company is aiming to expand traditional oil and gas production through 2030 while at the same time investing in electricity generation and renewable assets to meet growing demand for power.
At the company's annual strategic seminar held earlier this week, TotalEnergies said its board reviewed the company's strategic outlook and has unanimously backed it.
The board also discussed continuity of the company's governance and leadership.
"Accordingly, the board of directors wishes that Patrick Pouyanne, chairman and chief executive officer, continues to drive this strategy's deployment at the helm of the company."
The renewal of Patrick Pouyanne's mandate will be proposed to the shareholders' meeting in May 2027, as will the mandate renewal of lead independent director Jacques Aschenbroich.
"Since he has been appointed chairman and chief executive officer in December 2015, Patrick has undertaken an in-depth transformation of the company, making it a more financially performing company, diversifying its oil and gas supply sources, particularly LNG, and, above all, resolutely pursuing its energy transition strategy," Aschenbroich said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 25, 2026 02:48 ET (06:48 GMT)
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