AeroMorning November 5, 2025

French satellite operator Eutelsat saw its share price fall sharply on Wednesday: around 08:34 in Paris the stock was down about 3.29% at €3.24. 
The decline follows the group’s announcement that Sébastien Rouge, currently CFO at the industrial minerals specialist Imerys, will become CFO and Executive Committee member at Eutelsat effective 1 February 2026. He will replace Christophe Caudrelier. 

According to Aleksander Peterc (Bernstein), this move is “somewhat surprising”, as Caudrelier was well regarded and appreciated by the markets. 

Furthermore, the appointment comes in the wake of a major €1.35 billion capital increase announced by Eutelsat in June — including €634 million in rights issues — of which the French state is a substantial subscriber. 

The coincidence of the new CFO appointment and a significant financial operation appears to have triggered concern among investors, hence the negative reaction on the stock.