March 21, 2019 / 12:08 PM / 4 months ago

French Finance Minister slams pay deal for outgoing Technip boss Pilenko

FILE PHOTO: Thierry Pilenko, Chairman and CEO of French oil engineering group Technip, attends the third annual tech conference "Inno Generation" organized by French investment bank Bpifrance at AccorHotels Arena in Paris, France, October 12, 2017. REUTERS/Charles Platiau

PARIS (Reuters) - French Finance Minister Bruno Le Maire on Thursday slammed a bonus payment deal for TechnipFMC’s outgoing chairman Thierry Pilenko, given recent losses racked up at the oil services company.

“When I turn on my radio this morning to learn that the head of Technip is going to leave with a bonus even though he is leaving losses behind him, no-one can understand that type of behaviour. That type of behaviour is unacceptable,” Le Maire told a business conference held at the French parliament.

In February, TechnipFMC reported losses for the fourth quarter.

TechnipFMC was formed in 2016 by the merger between French company Technip and its U.S. peer FMC.

Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta

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