Orange CEO held for questioning over corruption

Orange group CEO Stéphane Richard is being held in custody in France as part of an investigation into alleged corruption dating back to 2008.

The case does not involve Orange (formerly France Telecom). Richard previously worked in the French Finance Ministry and he faces questions relating to his role in a 2008 payment made to businessman Bernard Tapie.

Richard’s detention was extended by 24 hours on Tuesday by the Court of Justice of the Republic, which investigates ministerial misconduct in France. France Télécom’s deputy CEO and chief financial officer Gervais Pellissier will undertake his responsibilities in his place.

Orange officially changed its name from France Telecom last month, having used the brand name for market facing activities since 2000.