The Board of Directors announces the appointment of Catherine MacGregor The biggest, of course, remains Renewables. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.. Engie said in a statement it had appointed Franco-American oil services firm TechnipFMC executive Catherine MacGregor as new CEO, effective Jan. 1, 2021. And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. So there will be a capital gain on this. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. You can still enjoy your subscription until the end of your current billing period. Or is it your budget of the COI for these businesses in 2021? How quickly can that new CapEx sort of translate into earnings? And if you look at what we announced on January 14 is indeed a smaller executive team, less members. They represent a key long-term growth engine for the group. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. Thank you. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. With our experience, knowledge and reach we can optimally meet your businesses media needs and requirements in three cohesive ways: Network with the right people, Insight into the industry, and Talent to the right place. Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. And Im sure thats a question youve been reflecting on as you took up the new role. We have a team of about 300 developers who are really good at what they do. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. Pour viter se gchis financier avec l'argent des franais We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. And this is something, obviously, that we are going to continue and push. So its a huge project. 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This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. So on EVBox, were very happy to have announced this transaction. The first one regarding the network convergence. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. Keep abreast of significant corporate, financial and political developments around the world. Cheers! - Contribute to measures to support purchasing power This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. And finally, we also strengthened our position in the rapidly growing market of corporate PPAs with over 1.5 gigawatts of contracts signed in 2020. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. Catherine MacGregor est elle-mme mre de deux filles 2 . We also suffer from the same crisis and have also contributed to this, especially in the Corona years. I'm looking forward to continuing to make a difference together. Watch th. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. fusion, And Judith, you want to comment, please, on the impairment? "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." We will now take our next question from Peter Bisztyga with Bank of America. Are you talking about Q3, Q4 for the end game? Catherine MacGregor is currently Chief Executive Officer and Director at Engie - View - Engie org chart Create your alert to follow the career of Catherine MacGregor. CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. We will now take the next question from Meike Becker with Bernstein. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Ill start maybe with, again, the second one on renewables. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. And so to in that respect, I think your comment might be valid. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . , Dear Catherine, This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. A warm welcome as well to you, Catherine MacGregor. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. A short stay for a rich experience and deep learning. Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. January 7, 2021. Yes. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. So I think this is a key point Id be interested in. And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? Enel nearly tripled, Orsted quadrupled. This was notably due to the discounting of liabilities related to hydro concessions in Brazil that are indexed to inflation and which increased significantly in 2020. And so were excited about this transaction. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. Its were rounding numbers here, as you can see, because like I said, this is our target. Katherine MacGregor - Wikipedia To remind, the company said in July that it intends to implement a new capital allocation strategy, focusing on two growth areas servicing the energy transition. But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. Catherine MacGregor Net Worth (2022) | wallmine In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. So the 150 million I gave is correct. The key here is really to give that business its own industrial project, its own identity. We announced last December that EVBox would be listed on the New York Stock Exchange. DN Media Group is the leading news provider in the shipping, seafood, and energy industries, with a number of English- and Norwegian-language news publications across a variety of sectors. And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. currently to 4 GW p.a. We also benefited from higher contributions of GTT thanks to a strong past order intake. As always, my team and I are here to assist you, so do please reach out. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. And I was interested to get your philosophy about minorities. Katherine MacGregor (born Dorlee Deane McGregor; January 12, 1925 - November 13, 2018) was an American actress, best known for her role as Harriet Oleson in Little House on the Prairie. Were, in fact, very positive and excited about the opportunity of these businesses, very, very different from other more traditional mtier that we have in ENGIE, and the idea is really to form a very coherent entity, which Jrme Stubler is very busy doing right now. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. We will now take our next question from Sam Arie with Union Bank of Switzerland. Vocs conseguem nos apoiar? It mainly affects our renewables and supply activities. We are assessing the situation, which mainly affects renewables and supply activities. Euro erzielen. And maybe Ill just say a few things, and Ill pass on to Judith, just to say that the Client Solutions project is a big project. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. And second, its really focused and making sure that everybody pulls in the same direction. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. Biography [ edit] Catherine MacGregor Wikipdia Simply log into Settings & Account and select "Cancel" on the right-hand side. We are a smaller company than Engie normally would partner with. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. Now that doesnt mean that we should not have discipline. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July, the companys statement reads. Maybe some thoughts. And yes, let me start by saying also welcome and wishing you success in the new role. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. Catherine MacGregor - Biography In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. Thank you very much, James, for your question. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha In 2021, we already have hedged 80% of the production at 46. Let me know below The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. If you have an ad-blocker enabled you may be blocked from proceeding. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. I think, as you pointed out, theres been a little bit of a race to gigawatts. . Long-term growth drivers for asset-light activities are also strong, underpinned by major international actions plans, such as the European green deal towards making the EUs economy sustainable. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). And Ill turn to Judith maybe for the cash flow from Nuclear. We have progressed on simplifying the group. And the answer is yes. So thats one aspect of it. How old is Ms MacGregor? But really appreciate, thanks again ! ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. Its, quite frankly, one of the big wins, I think, of last year when you think about it because both operationally to take this company to a level and multiply by almost 10 times their revenue over the last two years. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. offers FT membership to read for free. And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? Okay. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. I will now hand you back to Catherine for our 2021 priorities. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. Together, let's continue to make a difference! But where should we be hoping that Supply COI gets back to either this year or perhaps over the medium term? Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. Areas of expertise ; We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Welcome to the sector, indeed. And sometimes, its okay to lose auctions if we dont get the right returns. This is value neutral over time as D&A is integrated in the regulated revenue. And sorry, just a follow-up on the CapEx. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? Thank you, Sam, for this question. And first question is for Catherine MacGregor. It is important to say that our renewables growth ambition is not about entering a gigawatt race. Two questions from me. Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. Were going to really focus on a few geographies. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years.
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