WSJ: Veolia appears set to resist pressure to step down

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

Veolia Environnement (VE -1%) CEO and Chairman Antoine Frerot appears set to keep his job despite shareholder unrest as the board prepares to meet, WSJ reports.

A person proposed by shareholders seeking to replace Frerot says he is not a candidate for the position, and the French government, VE's largest shareholder with a 9.3% stake, reportedly is prepared to support Frerot at the board meeting.

VE has been hard hit by the economic crisis in Europe, and shares are trading at a fifth of their value six years ago.