Newly appointed GDF Suez CFO Judith Hartmann. Image courtesy of Bertelsmann.

German media executive Judith Hartmann was appointed CFO by France’s GDF Suez Tuesday as the company prepares for a multi-billion dollar three year asset sale.

Hartmann, currently the CFO at German media company Bertelsmann, will take her post at GDF Suez in March.

She previously served as CFO for GE’s European water business as well as GE’s healthcare business in Latin American and the United States, Reuters said.

Hartmann’s post was vacated last year by current GDF Suez COO Isabelle Kocher.

Kocher will take over as CEO when current chief executive Gerard Mestrallet steps down and becomes the company’s chairman in 2016.

Bertelsmann announced in November that Hartmann plans to leave her current position at the end of January.

Hartmann’s appointment comes as GDF Suez cements plans to sell about $2.38 billion to $3.5 billion of assets per year during the next three years.

The company said it plans to reinvest the profits in acquisitions.

Details about the company’s acquisition plans have not been disclosed.

In November, GDF Suez dropped its 2014 net recurring income forecast from $4.4 billion to $5 billion to between $3.7 billion to $4.17 billion as demand for gas drops.


Leave a Reply