New organizational structure for a simpler ENGIE to go live on July 1

Rhea-AI Summary

ENGIE has announced a new organizational structure aimed at enhancing operational performance and focusing on its core businesses. Effective July 1, 2021, the structure introduces four Global Business Units (GBUs): Renewables, Energy Solutions, Networks, and Thermal & Supply, enhancing accountability for financial performance. EQUANS, now an autonomous entity within ENGIE, aims to be a leader in multi-technical services with over €12 billion in annual revenue. This move is part of ENGIE's strategic roadmap to strengthen its position in the energy transition and streamline operations.

Positive

• Introduction of four Global Business Units (GBUs) for better financial accountability.
• Creation of EQUANS as a leader in multi-technical services with an annual revenue of over €12 billion.
• Focus on core businesses for improved operational performance.

Negative

• None.

HOUSTON, June 30, 2021 /PRNewswire/ -- Featuring four Global Business Units and newly created EQUANS, a leader in delivering multi-technical services, ENGIE's new organizational structure is now established. On May 18, 2021, ENGIE's Chief Executive Officer Catherine MacGregor unveiled the Group's strategic roadmap, to reaffirm ENGIE as a leader in the energy transition.

In line with the planned timetable, the new organizational structure will be effective July 1, 2021, and will bring:

• Greater simplicity in the way the Group is managed,
• Better operational performance with increased focus on core businesses,
• More efficiency through pooling the support functions.

The new structure comprises:

• 4 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.
• 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.

EQUANS will now operate as an autonomous entity within ENGIE, managed by its CEO Jérôme Stubler and his management team. With 74,000 employees in 17 countries and an annual revenue of over €12 billion, EQUANS is a new global leader in multi-technical services, strongly positioned in growing markets.

To strengthen its presence in these markets, EQUANS has chosen a name and a brand identity that conveys all of its values and its ambition.  Its signature – "Empowering Transitions" – is evidence of its employees' commitment to their customers, and of their ability to innovate and adapt to provide them with high added-value services.

EQUANS's aim is to be its clients' preferred partner to help them speed-up their energy, industrial and digital transitions.

EQUANS is structured along 6 fields of expertise: Electrical, HVAC, Cooling, Mechanical, Digital & IT, Facility management.

EQUANS already holds a leading position in key European markets (France, Belgium and the UK in particular) and is also very well ranked in the U.S. and in Latin America.

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.

Catherine MacGregor, ENGIE CEO, said: "Today marks an important step forward in the implementation of our strategic roadmap. We are very proud to announce the creation of EQUANS, an autonomous entity within ENGIE, known in recent months under the project name "Bright". We are on track to deliver on our simplification plan through the positioning of EQUANS as a leader in multi-technical services and reaffirming ENGIE as a leader in the energy transition, refocused on its growth markets and with a more industrial approach."

Jérôme Stubler, EQUANS CEO, added: "I would like to acknowledge the incredible work which has been accomplished during the last 6 months to create EQUANS. EQUANS is made of state-of-the-art expertise which totally responds to the needs of our clients in delivering the Energy, Industrial and Digital transitions. This is a great moment for the 74,000 employees all over the world. I am very honored and pleased to lead this fantastic team."

About ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company's power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. is a global reference in low-carbon energy and services, that relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, the group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions.

Media Contact:
ENGIE North America: Sandrine Deparis, sandrine.deparis@engie.com, (202) 855 3705

 

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SOURCE ENGIE North America

FAQ

What is ENGIE's new organizational structure effective July 1, 2021?

ENGIE's new structure features four Global Business Units focusing on Renewables, Energy Solutions, Networks, and Thermal & Supply, aimed at enhancing operational performance and accountability.

What are the key objectives of the new structure announced by ENGIE?

The key objectives include greater simplicity in management, improved operational performance, and increased efficiency through better pooling of support functions.

What is EQUANS and what role does it play within ENGIE?

EQUANS is an autonomous entity within ENGIE that specializes in multi-technical services, aiming to support clients in their energy, industrial, and digital transitions.

What financial impact does the creation of EQUANS have on ENGIE?

EQUANS is projected to generate over €12 billion in annual revenue, positioning it as a leader in multi-technical services.

What strategic roadmap was unveiled by ENGIE's CEO on May 18, 2021?

The strategic roadmap reaffirms ENGIE's commitment to leading the energy transition and includes the establishment of the new organizational structure and EQUANS.