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Loïk Le Floch-Prigent, Industrial Titan Turned Scandal Figure, Dies at 81

His passing casts fresh light on the Elf affair’s impact on corporate governance in France

Overview

  • He served as CEO of Rhône-Poulenc, Elf Aquitaine, Gaz de France and SNCF under governments from François Mitterrand to Jacques Chirac.
  • In 2003 a court convicted him of misappropriating nearly €305 million in the Elf affair, sentencing him to five years in prison and a €375,000 fine.
  • He spent roughly two years behind bars before an early release on health grounds and briefly returned to prison in 2010, later facing detention in Côte d’Ivoire and Togo for suspected fraud.
  • After stepping away from business he joined far-right networks, appearing at Reconquête!’s 2024 summer university and entering the strategic committee of the Frontières media outlet.
  • His death has reignited discussion of the intertwining of French political power and industrial leadership and spurred calls to strengthen corporate oversight.