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The Death of Total’s Chief Executive Is Felt Across National Borders The Death of Total’s Chief Executive Is Felt Across National Borders
(35 minutes later)
MOSCOW — At the country house of the Russian prime minister on Monday, the head of the French oil company Total, Christophe de Margerie, criticized Western sanctions against Russia, again demonstrating his strong personality in the face of the global sanctions war. MOSCOW — At the country house of the Russian prime minister on Monday, the head of the French oil company Total, Christophe de Margerie, criticized Western sanctions against Russia, again demonstrating his strong personality in the face of the global sanctions war.
A few hours later, as his private jet tried to take off in midnight fog for the flight back to Paris, Mr. de Margerie, 63, the chief executive of the world’s fourth-biggest oil company and one of France’s biggest private employers, died in a crash after his aircraft hit a snowplow.A few hours later, as his private jet tried to take off in midnight fog for the flight back to Paris, Mr. de Margerie, 63, the chief executive of the world’s fourth-biggest oil company and one of France’s biggest private employers, died in a crash after his aircraft hit a snowplow.
As Total expressed shock on Tuesday at his death, the oil industry in its first drafts of history might record him as a shuttle diplomat, one whose mission was overcoming East-West tensions in the name of getting on with the business of doing business.As Total expressed shock on Tuesday at his death, the oil industry in its first drafts of history might record him as a shuttle diplomat, one whose mission was overcoming East-West tensions in the name of getting on with the business of doing business.
Mr. de Margerie, who started with the company in 1974 and became chief executive in 2007, was one of the most powerful and colorful figures in the energy industry, and a prominent voice in Europe in opposing sanctions against Russia.Mr. de Margerie, who started with the company in 1974 and became chief executive in 2007, was one of the most powerful and colorful figures in the energy industry, and a prominent voice in Europe in opposing sanctions against Russia.
Analysts say the bench of possible successors is strong, but a new leader will confront challenges. Total’s shares have fallen about 19 percent from the time Mr. de Margerie became chief. That is comparable to shares of BP, but substantially behind the performance of Exxon Mobil, up 24 percent over the same period, and Shell, up about 3.1 percent.Analysts say the bench of possible successors is strong, but a new leader will confront challenges. Total’s shares have fallen about 19 percent from the time Mr. de Margerie became chief. That is comparable to shares of BP, but substantially behind the performance of Exxon Mobil, up 24 percent over the same period, and Shell, up about 3.1 percent.
Even before the collision, Patrick Pouyanné, Total’s president of refining and chemicals, was often mentioned as an eventual replacement. Mr. Pouyanné, 50, is considered to have done a good job handling the tricky task of reducing his unit’s size in Europe and has the benefit of having run the company’s business in Qatar, an important location for Total.Even before the collision, Patrick Pouyanné, Total’s president of refining and chemicals, was often mentioned as an eventual replacement. Mr. Pouyanné, 50, is considered to have done a good job handling the tricky task of reducing his unit’s size in Europe and has the benefit of having run the company’s business in Qatar, an important location for Total.
Another candidate is Philippe Boisseau, 52, who heads the marketing and alternative energy business. Oil companies often pick the head of exploration and production as chief executive, but at Total, Arnaud Breuillac has held that role less than a year.Another candidate is Philippe Boisseau, 52, who heads the marketing and alternative energy business. Oil companies often pick the head of exploration and production as chief executive, but at Total, Arnaud Breuillac has held that role less than a year.
Neither executive, though, is known for having an outsize personality, as Mr. de Margerie did. Called Big Mustache by his colleagues because of his trademark facial hair, Mr. de Margerie cut a swashbuckling figure on friendly terms with a wide range of industry and political figures.Neither executive, though, is known for having an outsize personality, as Mr. de Margerie did. Called Big Mustache by his colleagues because of his trademark facial hair, Mr. de Margerie cut a swashbuckling figure on friendly terms with a wide range of industry and political figures.
Mr. de Margerie spoke on Monday to a business alliance group at a home of the Russian prime minister, Dmitri A. Medvedev.Mr. de Margerie spoke on Monday to a business alliance group at a home of the Russian prime minister, Dmitri A. Medvedev.
“We are against sanctions,” Mr. de Margerie told the group, according to a transcript. “You have heard it. And I have not made myself very popular in my own country, as I am often accused of promoting our selfish interest.”“We are against sanctions,” Mr. de Margerie told the group, according to a transcript. “You have heard it. And I have not made myself very popular in my own country, as I am often accused of promoting our selfish interest.”
The accident — in which officials contend that the snowplow driver, who survived, was drunk and the control tower staff erred — was still under investigation.The accident — in which officials contend that the snowplow driver, who survived, was drunk and the control tower staff erred — was still under investigation.
Mr. de Margerie helped Total establish itself in places like Qatar as a company that could provide Western capital and technology but that was less tied to the interests of the United States and Britain than were rivals like Exxon Mobil and BP.Mr. de Margerie helped Total establish itself in places like Qatar as a company that could provide Western capital and technology but that was less tied to the interests of the United States and Britain than were rivals like Exxon Mobil and BP.
“Mr. de Margerie is one of the most central and characteristic figures in the industry, and in our view, his loss will be deeply felt at Total,” Peter Hutton, an analyst at RBC Capital Markets in London, wrote in an email. “He has been a stronger driver of strategy, execution and culture of the company than most C.E.O.s, and while there is a strong management team, this will lead to a sense of void at the center for some time.”“Mr. de Margerie is one of the most central and characteristic figures in the industry, and in our view, his loss will be deeply felt at Total,” Peter Hutton, an analyst at RBC Capital Markets in London, wrote in an email. “He has been a stronger driver of strategy, execution and culture of the company than most C.E.O.s, and while there is a strong management team, this will lead to a sense of void at the center for some time.”
Mr. de Margerie rose from positions in the finance and exploration divisions and was a close associate of Thierry Desmarest, who built Total into a giant through mergers culminating with the takeover of Elf Aquitaine in 2000.Mr. de Margerie rose from positions in the finance and exploration divisions and was a close associate of Thierry Desmarest, who built Total into a giant through mergers culminating with the takeover of Elf Aquitaine in 2000.
After becoming chief executive, Mr. de Margerie helped consolidate the merger and broadened Total’s base, expanding into Russia and the oil sands in Canada. He was also on good terms with oil figures in Saudi Arabia and recently scored a coup by building a large refinery in the country, the leading producer among members of the Organization of the Petroleum Exporting Countries.After becoming chief executive, Mr. de Margerie helped consolidate the merger and broadened Total’s base, expanding into Russia and the oil sands in Canada. He was also on good terms with oil figures in Saudi Arabia and recently scored a coup by building a large refinery in the country, the leading producer among members of the Organization of the Petroleum Exporting Countries.
He helped make Total one of the largest players in British and Norwegian waters. Recently, he made a small investment in British shale, possibly with the intention of provoking the French government, which thus far has prevented oil companies from exploring France’s own potentially rich deposits of shale oil and gas.He helped make Total one of the largest players in British and Norwegian waters. Recently, he made a small investment in British shale, possibly with the intention of provoking the French government, which thus far has prevented oil companies from exploring France’s own potentially rich deposits of shale oil and gas.
France, like other big European countries with strong business ties to Russia, was initially reluctant to press for sanctions against Moscow after the Ukraine tensions first flared this year. Mr. de Margerie spoke loudly and publicly against sanctions.France, like other big European countries with strong business ties to Russia, was initially reluctant to press for sanctions against Moscow after the Ukraine tensions first flared this year. Mr. de Margerie spoke loudly and publicly against sanctions.
President Vladimir V. Putin sent a message to President François Hollande of France, saying Russia had “lost a true friend of our country.”President Vladimir V. Putin sent a message to President François Hollande of France, saying Russia had “lost a true friend of our country.”