Alstom says CEO Poupart-Lafarge will not seek another term

(Reuters) -France's Alstom said on Friday that its CEO Henri Poupart-Lafarge would not seek a fourth term and would step down at the end of his current mandate in 2027.

Poupart-Lafarge, who has led the train maker since 2016, will remain in his role until the 2027 annual general meeting and until a successor is appointed, the company said.

Its board of directors has launched a process to find a new CEO, it said in a statement.

Alstom, which had taken long to recover from its costly 2021 acquisition of Bombardier's rail business, declined to comment on the reasons behind the CEO's decision.

Alongside its full-year results publication on Wednesday, the group said it had fully executed its deleveraging plan and completed the integration of Bombardier's rail business.

Alstom's shares were up nearly 4% as of 0827 GMT.

(Reporting by Anna Peverieri in Gdansk, editing by Milla Nissi-Prussak)