Eutelsat Communications Shares Decline After New CFO Appointment
French satellite operator Eutelsat experienced a sharp drop in its share price on Wednesday. Around 08:34 in Paris, the stock decreased by approximately 3.29% to €3.24.
New CFO Announcement
The decline followed the group’s announcement that Sébastien Rouge, currently CFO at the industrial minerals firm Imerys, will take over as CFO and Executive Committee member at Eutelsat starting 1 February 2026. Rouge will succeed Christophe Caudrelier.
According to Aleksander Peterc of Bernstein, this move is “somewhat surprising,” as Caudrelier was well regarded and appreciated by the markets.
Context of the Appointment
The appointment coincides with a major €1.35 billion capital increase announced by Eutelsat in June, which included €634 million in rights issues. The French state is a significant subscriber in this financial operation.
The overlap of the new CFO appointment and the large capital increase seems to have raised investor concerns, which contributed to the negative market reaction.
Author's Summary
The unexpected CFO change amid a major capital increase has unsettled investors, causing Eutelsat's shares to drop sharply.