December 2, 2019 / 7:54 AM / 8 months ago

France's Suez restructures in plan to revive results

FILE PHOTO: The logo of Suez is seen on the top of a building in Rueil-Malmaison, France, August 17, 2019. REUTERS/Charles Platiau

PARIS (Reuters) - French utility Suez (SEVI.PA) on Monday announced a new boardroom and business structure, which it said formed part of a general strategy plan to improve its results.

Jean-Marc Boursier and Julian Waldron would be in charge of implementing a plan aimed at achieving savings of 1 billion euros ($1.1 billion) by 2023, Suez said in a statement.

Suez, in which French utility Engie (ENGIE.PA) has a 32% stake, added it was setting up six regional divisions and two global business units as part of its overhaul.

($1 = 0.9073 euros)

Reporting by Sudip Kar-Gupta; Editing by Alexander Smith

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