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#HinkleyC: EDF finance chief quitsahead of Hinkley Point decision
EDF has confirmed that its finance director has quit ahead of an expected final investment decision on the £18 billion Hinkley Point nuclear power plant.
Thomas Piquemal, the former finance director, stepped down because he feared the project could jeopardize EDF's financial position, according to reports.
EDF shares were trading down 7%.
Last month, Chris Bakken, the director of the project that could produce 7% of UK electricity by 2025, said he was leaving to pursue other interests.
Jean-Bernard Levy, chairman and chief executive of EDF, said Piquemal told him of the decision to leave last week and that he regretted the 'haste' of Mr Piquemal's departure.
After postponing the decision on a number of occasions, the company's board was expected to finalize its plans on how it will fund the project in April 2016. State aid, in the form of a state guarantee for Hinkley Point C was controversially was found by the European Commission to be compliant with EU state aid rules. This decision has been challenged by energy companies and Austria.
Levy said the board was studying the investment in Hinkley Point (Somerset, UK) to ascertain the best way to finance the power plant. He added that EDF aimed to announce a final investment decision "soon".
EDF has provisionally appointed Xavier Girre, who joined the company last year as finance director of its French business, as the group finance chief.
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