Ex-Orange CEO Richard Has Conviction Overturned, Faces New Trial

Stephane Richard, the former chief executive officer of Orange SA, has had a conviction overturned at France’s top court in a case which stemmed from his handling of a multi-million euro dispute when he worked for the then-French finance minister.

The Cour de Cassation on Wednesday ordered a retrial for Richard by a lower tribunal after deciding that it had erred in finding that Richard was complicit in embezzlement.

Richard wasn’t aware of the fraudulent nature of a controversial decision by an arbitration court to give a massive payout to late businessman Bernard Tapie in 2008, the court ...