French oil company Total CEO dies in plane crash at Russian airport

PanARMENIAN.Net - French oil company Total SA said Chairman and Chief Executive Christophe de Margerie died Monday, Oct 20, in a plane crash at a Russian airport, the Wall Street Journal reports.

The French executive, who enjoyed close relations with numerous world leaders, including Russian President Vladimir Putin , was 63 years old.

De Margerie and the three crew members on board were killed when their Falcon 50 business jet gathered speed to take off at Moscow’s Vnukovo airport amid low visibility, and ran into a snow-removal truck maneuvering on the runway, according to airport authorities.

A Total spokeswoman said de Margerie was in Moscow to attend a gathering of the Russian government’s foreign investment advisory council.

De Margerie’s sudden death opens a period of uncertainty at Total, one of France’s largest companies, which had no obvious succession plan in place. In May, Total shareholders had approved a resolution increasing the age cap for its CEO to 67 from 65, potentially allowing de Margerie to remain at the oil company through 2018, the Journal says.

A bon vivant who confessed to enjoying reality shows, the blue-blooded Mr. de Margerie devoted his life to the oil industry, following a simple motto: “Go where the oil is.” Born into a family that owns part of the Taittinger champagne house, his relatives joked about how he could have become “king of brut,” but had preferred to become “king of crude.”

De Margerie joined Total’s finance department in 1974 after studying business. He worked for the oil-trading arm from 1990 to 1995. In January 2002, he became head of the group’s core exploration and production division, a position often regarded as a necessary step to the CEO post.

Known as “Big Mustache” for his bushy handlebar, de Margerie relentlessly hopscotched the globe to promote his oil firm.

At a meeting in Moscow with Putin in 2009, the executive described the talks that led to a partnership with a tough Russian counterpart.

“He’s a terrifying man to negotiate with,” de Margerie said of the Russian partner, according to minutes of the meeting.

“You’ve just complimented him,” Putin replied.