Bloomberg: Veolia could oust CEO

|About: Veolia Environnement ADR (VEOEY)|By:, SA News Editor

Veolia Environnement (VE) CEO Antoine Frerot is facing a battle for survival, with Bloomberg reporting that the company's board could decide whether to keep or fire him at a meeting on Wednesday.

David Azema, who runs the agency that manages state holdings in firms, has been approached about succeeding Frerot.

Veolia's second-largest shareholder, Groupe Industriel Marcel Dassault, wants to remove Frerot; Veolia's biggest stockholder is the French state.

Frerot has already survived one challenge to his position, in February 2012.