ENGIE Announces New Organizational Structure, Siloes Multi-Technical Services Business, Sale Considered

ENGIE announced a new organizational structure that includes four Global Business Units (GBUs): Renewables, Energy Solutions, Networks, Thermal & Supply.

These four GBUs, which reflect the Group's core businesses, will have accountability for their respective financial performance.

The new organizational structure also includes, "A geographical platform structured with regional hubs for pooling the support functions, coordinating the entities at country level, that will be in charge of managing Group's local stakeholders and leveraging synergies across activities."

ENGIE's multi-technical services business, now known as EQUANS, will now operate as an autonomous entity within ENGIE, managed by its CEO Jérôme Stubler. With annual revenue of over €12 billion, EQUANS provides multi-technical services to assist customers in their energy, industrial and digital transitions. EQUANS is structured along 6 fields of expertise: Electrical, HVAC, Cooling, Mechanical, Digital & IT, Facility management

"Now that EQUANS has been created, ENGIE is moving to the next phase where options for a new shareholding structure will be explored, with a focus on creating the best environment for EQUANS's future growth," ENGIE said

ENGIE also said that all options are being considered for a sale of EQUANS