ENGIE Restructures Business Units to Accelerate Growth and Strengthen Energy Transition Strategy

ENGIE Restructures Business Units to Accelerate Growth and Strengthen Energy Transition Strategy

(IN BRIEF) ENGIE has been driving its energy transition strategy since 2021, with significant changes in its asset portfolio, organizational structure, and culture in line with its Net Zero Carbon commitment by 2045. The company is restructuring its Global Business Units (GBUs) to capture new opportunities in renewable energy, flexible assets, and green energy solutions. Key changes include combining renewable energy and power storage under GBU Renewables and Flex Power, developing power grids and green gas infrastructure in GBU Networks, and refocusing GBU Local Energy Infrastructures on decarbonization in specific markets. Despite these adjustments, ENGIE’s financial and operational targets remain the same. The company also announced a reshaped Executive Committee, led by CEO Catherine MacGregor, to further drive growth and synergies across its operations.

(PRESS RELEASE) LA DÈFENSE, 18-Jan-2025 — /EuropaWire/ — Since 2021, ENGIE has been executing its energy transition strategy, making significant transformations to its asset portfolio, organizational structure, and culture in alignment with its commitment to achieving Net Zero Carbon by 2045. The shift in energy markets, driven by an increased reliance on renewable energy sources, coupled with growing demands for flexible assets to stabilize power grids and provide green energy year-round, has been a critical factor in the company’s evolution.

To capitalize on these emerging opportunities and enhance the value of its integrated business model, ENGIE is restructuring its Global Business Units (GBUs):

• The GBU Renewables and Flex Power will combine renewable energy sources, power storage solutions, including batteries, and combined-cycle gas turbine (CCGT) facilities to deliver more sustainable and flexible energy.
• The GBU Networks will focus on the development of power grids while transitioning gas infrastructure to accommodate green molecules like biomethane, hydrogen, and e-molecules.
• The newly renamed GBU Local Energy Infrastructures, previously the GBU Energy Solutions, will build upon its European leadership in decarbonizing industries and cities, with a more selective approach to its business and geographic focus.
• The GBU Supply & Energy Management will unify energy management and downstream activities, including both business-to-business (B2B) and business-to-consumer (B2C) retail operations, ensuring secure and sustainable energy delivery to all customers.

Despite these changes, ENGIE’s operational and financial targets remain unchanged.

The reshaping of the Executive Committee, effective February 1st, will see the following leaders take key roles under the guidance of Catherine MacGregor, CEO:

• Paulo Almirante, Senior Executive Vice President, GBU Renewable & Flex Power
• Frank Lacroix, Executive Vice President, GBU Local Energy Infrastructures
• Cécile Prévieu, Executive Vice President, GBU Networks
• Edouard Neviaski, Executive Vice President, GBU Supply & Energy Management
• Thierry Saegeman, Executive Vice President, Transformation & Geographies, Nuclear, and Tractebel
• Jean-Sébastien Blanc, Executive Vice President, HR and Corporate
• Biljana Kaitovic, Executive Vice President, Data, Digital, and IT
• Pierre-François Riolacci, Executive Vice President, Finance, ESG, and Procurement
• Claire Waysand, Executive Vice President, Corporate Secretary, Strategy, Research & Innovation, and Communication
• Sébastien Arbola, Executive Vice President, Special Projects (responsible for ENGIE’s Data Center strategy, until further notice).

CEO Catherine MacGregor remarked, “The redefined scope of our organization is crucial as ENGIE accelerates its growth. In order to build the most reliable and affordable energy system of the future, we must foster synergies across the Group and leverage the expertise of our teams. The new GBU structure will invigorate this process, and I commend the ENGIE teams for transforming the company into a leader in the energy transition.”

Further updates will be provided during ENGIE’s Market Update, scheduled for February 27th, 2025, in conjunction with the full-year results presentation.

About ENGIE
ENGIE is a global reference in low-carbon energy and services. With its 97,000 employees, clients, partners and stakeholders, the Group strives every day to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose statement, ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its clients. Turnover in 2023: €82.6 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Vigeo Eiris – Europe 120 / France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG-X).

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SOURCE: ENGIE