AREVA CEO Resigns Citing Health Problems

AREVA CEO Luc Oursel announced he will step down from his position because of health reasons, the company said yesterday. Oursel will pursue treatment for an undisclosed illness, but he told the French government he would remain available to help the transition to a new CEO. “Under these very difficult personal circumstances, and despite my very strong commitment to AREVA, I have had no choice but to hand over my responsibilities at the head of the company and have chosen to take a leave of absence in order to pursue treatment,” Oursel said in a statement. “I must now fight a personal battle against the illness, but all of my thoughts remain with the teams at AREVA. I have been happy and proud to mobilize them in the difficult context for the turnaround of the company, for the benefit of the country, and I am convinced that they will succeed.” AREVA has suffered a down year, with the company announcing a €694 million euro loss at the beginning of August, while stock prices have dropped to half their worth from the beginning of the year.