Coverage: Total CEO dies In plane crash

The news that oil giant Total’s CEO Christophe de Margerie was killed in a plane crash in Moscow shocked the business world. It also kicked off speculation about who would take over the company.

Forbes had these details in a story by Christopher Helman:

Christophe de Margerie, CEO of French oil giant Total was killed Monday night when the business jet he was flying in crashed upon takeoff at Vnukovo Airport in Moscow. In addition to de Margerie, 63, three crew members on the Falcon 50 jet perished. According to reports, the plane hit a snow plow while attempting to take off. As the pilot attempted to turn back and land, the plane crashed in a fireball. The driver of the snow plow is alleged to have been drunk at the time, thoughhe reportedly denies it.

It’s a sad end to the life of one of Big Oil’s most colorful leaders. De Margerie had worked at Total since 1974. He became head of Middle East operations in 1995, then boss of exploration and production in 2002. He served as CEO since 2007. He leaves behind a wife and children.

The New York Times story by Andrew E. Kramer gave these details about his career and legend in the energy business:

Neither executive, though, is known for having an outsize personality, as Mr. de Margerie did. Called Big Mustache by his colleagues because of his trademark facial hair, Mr. de Margerie cut a swashbuckling figure on friendly terms with a wide range of industry and political figures.

Mr. de Margerie spoke on Monday to a business alliance group at a home of the Russian prime minister, Dmitri A. Medvedev.

“We are against sanctions,” Mr. de Margerie told the group, according to a transcript. “You have heard it. And I have not made myself very popular in my own country, as I am often accused of promoting our selfish interest.”

The accident — in which officials contend that the snowplow driver, who survived, was drunk and the control tower staff erred — was still under investigation.

Mr. de Margerie helped Total establish itself in places like Qatar as a company that could provide Western capital and technology but that was less tied to the interests of the United States and Britain than were rivals like Exxon Mobil and BP.

Sophia Yan reported for CNN Money that the snowplow driver was intoxicated, but official continued to investigate the crash:

Russian officials said the snowplow’s driver was inebriated. Along with CEO Christophe de Margerie, three other members of the plane’s crew were also found dead at the scene of the accident.

Russian officials have said they would investigate other possible causes of the accident such as pilot and air traffic control error. The crash occurred when the landing gear of the Falcon airplane hit the snow-clearing machine during takeoff, then caught fire and crashed on the runway.

The death of the 63-year old de Margerie was immediately mourned by top leaders. Affectionately known as Big Mustache for his signature facial hair, de Margerie had a “larger-than-life personality” and was “hugely respected” in French business and political circles, according to the Financial Times. The company released a statement sending condolences to the families of all the victims.

Justin Scheck and David Gauthier-Villars wrote in The Wall Street Journal about who might be tapped to take over the CEO job:

The top contenders for the CEO position are Patrick Pouyanné, the head of Total’s refining and chemicals division, and Philippe Boisseau, who runs marketing and new energy operations, the people said.

Director Thierry Desmarest , who was chairman until 2010, will be asked to resume that post, they said. Mr. Desmarest will take the position on an interim basis because in December of next year he will turn 70 years old, the company’s age limit, one of the people said. Mr. Desmarest didn’t reply to request for comment.

Total’s move into politically risky areas came about largely because of Mr. de Margerie’s belief that global oil resources were finite and that oil companies would have to operate in difficult regions to keep growing.

“He was one of very few CEOs prepared to leave his desk and go out to see projects,” said Aidan Heavey, the CEO of Tullow Oil PLC, which works with Total in Uganda. “He took a personal interest in projects and really knew about the operations.”

Many of the tributes were mixed, citing de Margerie’s outsized personality and balancing that with the company’s recent performance. But no matter what others thought of him, the accident should leave investors in all sectors asking questions about contingency plans for key roles in the companies they hold.