As a final sporting challenge, Jean-Pierre Farandou will leave the presidency of the SNCF after the Olympic Games. He won a final battle, a negotiation with the unions on support for end-of-career benefits.
An agreement that displeased Bercy, but no one is fooled. The government could not ignore its contours. For months, the executive should have publicly announced that it did not wish to renew the current head of the SNCF, even for half a term, given the captain’s age.
However, Jean-Pierre Farandou’s record is much more brilliant than that of his predecessor. He smoothly implemented the new rail pact and re-established dialogue with his teams. He also got the company’s financial situation back on track, helped by the State, which took over a large part of the debt. Between 2019 and 2023, turnover increased by 20% to 42 billion euros; net income went from -300 million to +1.3 billion euros and cash flow from -2.3 billion to +2.5 billion euros. Finally, Jean-Pierre Farandou pushed hard for a 100 billion euro plan for the railways, taken up by Élisabeth Borne.
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Source: www.usinenouvelle.com
