Board revolt ousts Nexans CEO as copper slides - Oct 14, 2025

As of October 14, today’s news features relevant developments in the cable and materials industry, highlighted by behind-the-scenes details of the leadership shake-up at Nexans and broader market movements affecting copper and other metals. According to Le Figaro, unnamed sources said that Nexans CEO Christopher Guérin was ousted after losing the confidence of the board and key shareholders. Unnamed sources told Le Figaro that Guérin’s increasingly alleged ‘autocratic style’ and a plan, cited to delist Nexans without board approval, was behind his removal. Nexand did not comment on this in Le Figaro. Chairman Jean Mouton appointed Julien Hueber to ensure “continuity” according to the newspaper. Meanwhile, Germany's Aurubis has held preliminary talks with the U.S. government about support for a new copper smelter in the United States following the launch of a recycling plant there, its CEO said today. Turning to market updates, copper prices have dipped by approximately 2.3% due to rising trade tensions between the U.S. and China, which are raising concerns over demand for copper and other growth-dependent metals. Despite challenges in supply from key mining countries, copper has seen a decline in demand amidst these geopolitical uncertainties. In contrast, Rio Tinto is gearing up for a strong year-end to meet its iron ore shipment targets, bolstered by increased demand from China, which has reached record import levels in recent months. Meanwhile, Chinese solar stocks experienced a surge as the government announced potential regulatory measures to control solar production capacity amid fears of oversupply. In a noteworthy global development, Google has unveiled plans for a 15 billion dollars investment in an AI data center in India, marking its most significant investment in the country to date. This initiative aligns with the growing demand for AI infrastructure and aims to support local advancements in artificial intelligence. Lastly, the French Prime Minister has suspended a pivotal pension reform as he seeks legislative support for the upcoming budget, reflecting the fragile political landscape in France.