Finance
EDF promotes nuclear executives to board ahead of new builds
Published by Global Banking & Finance Review®
Posted on July 8, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 8, 2025
2 min readLast updated: January 23, 2026
EDF strengthens its board with new directors to support plans for six new nuclear reactors and increased hydropower investments.
(Fixes typo in Emmanuelle Verger's name in paragraph 6.)
By America Hernandez
PARIS -France's state-owned EDF has appointed several new directors to its board and will reorganise the group's operations in anticipation of its plans to build six new nuclear reactors and increase investments in hydropower, it said on Tuesday.
"This evolution aims to strengthen the Group’s industrial performance in support of the revival of nuclear power and hydropower ... We must organise ourselves to better define and deliver on our commitments over the long term," EDF CEO Bernard Fontana said in a statement.
Xavier Gruz, EDF's nuclear programme director, will join the executive committee immediately and propose a strengthened ownership structure for the new nuclear projects, reporting directly to the CEO and chairman.
EDF will also soon form a new project management entity meant to accelerate the build out of reactors by streamlining cooperation with industrial partners at the engineering, construction, and supply chain levels.
Nicolas Machtou, who currently heads new nuclear projects, will become the board's secretary general beginning in September.
Elisabeth Terrail, from EDF's reactor-building business Framatome, and Emmanuelle Verger, who heads EDF's hydropower activities, have also been appointed to the board.
Fontana, appointed CEO earlier this year, has been tasked with jumpstarting the nuclear ramp-up and is currently seeking ways to bring in money to finance new builds, including possible asset sales.
Earlier this year the French government agreed to issue EDF a subsidized loan covering at least half of the construction costs of six new reactors, which were estimated to be around 52 billion euros in 2022. An updated budget is expected by year-end.
(Reporting by America Hernandez in Paris; Editing by Barbara Lewis and Emelia Sithole-Matarise)
The reorganization aims to strengthen the Group’s industrial performance in support of the revival of nuclear power and hydropower.
New members include Xavier Gruz, Nicolas Machtou, Elisabeth Terrail, and Emmanuelle Verger.
The French government agreed to issue EDF a subsidized loan covering at least half of the construction costs of six new reactors, estimated to be around 52 billion euros.
The new project management entity will accelerate the build-out of reactors by streamlining cooperation with industrial partners in engineering, construction, and supply.
The appointments are significant as they are part of EDF's strategy to jumpstart the nuclear ramp-up and secure financing for new builds.
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