Eurostar has announced a major leadership change, with Chief Executive Officer Gwendoline Cazenave stepping down after four years at the helm and Christophe Fanichet appointed as her successor from 1 December 2026.
Until Fanichet formally takes up the role, Matthieu Quyollet, Eurostar’s Chief Financial, Strategy and Transformation Officer and Deputy CEO, will serve as interim Chief Executive.
The announcement marks the end of a transformative period for Eurostar under Cazenave’s leadership. During her tenure, the operator successfully integrated Eurostar and Thalys under a single brand, delivered a return to sustained growth, surpassed 20 million annual passengers and laid the foundations for significant future investment in both rolling stock and customer experience.
Eurostar’s Board of Directors praised Cazenave for guiding the business through a pivotal phase of change and positioning the company for its next stage of development in an increasingly competitive European rail market.
The company’s focus will now shift towards delivering its long-term growth strategy, including the introduction of a new fleet and the expansion of its network across Europe.
A Legacy of Transformation
Reflecting on her departure, Gwendoline Cazenave highlighted the achievements made during her four years leading the international high-speed rail operator.
"As I step down from leading Eurostar after four years, I can see the full extent of the transformation we have achieved.”
“We brought Eurostar and Thalys together to create a European high-speed rail champion, complete with a strong brand, an expanded network, and a completely reimagined customer experience. We have strengthened the company’s competitive position and united all its stakeholders around a shared ambition. Revenue has grown by more than 30% since 2022, with an EBITDA margin of 18%, and the company has committed a historic €2 billion investment to 'Eurostar Celestia'—its new fleet of double-decker high-speed trains—laying the groundwork for its next phase of growth. None of this would have been possible without the talent, commitment, and energy of the Eurostar teams. Throughout my career, I have been driven by a single ambition: to transform, create value, and rally collective energy around a common goal. It is this same ambition that will continue to guide me."
During her leadership, Eurostar strengthened its position as one of Europe’s leading high-speed rail operators, while advancing ambitious growth plans designed to increase capacity and improve passenger experience.
Experienced Rail Leader to Take the Helm
Christophe Fanichet joins Eurostar with almost two decades of senior leadership experience within the SNCF Group. Most recently, he served as Chairman and CEO of SNCF Voyageurs between January 2020 and July 2026 and has also sat on the Eurostar Group Board since 2022.
His appointment comes at a crucial time for Eurostar, as competition increases across European passenger rail markets and major investment programmes move from planning to delivery.
Commenting on his appointment, Christophe Fanichet said:
“I am delighted to be joining the Eurostar Group team and dedicating myself to its development. Eurostar is a magnificent company; I know very well the talent and commitment of its staff in serving our customers, the strength of its network across Europe, and its power as a global benchmark for travel. I embrace the challenge presented by this new chapter. We will need to implement the necessary investments and transformations to ensure Eurostar’s growth within a competitive landscape. Together with Eurostar’s 2,500 employees - with whom I am delighted to be working—and with the trust of our shareholders and the high-quality collaboration of our partners, we have all the assets required for success."
With major fleet investments, network expansion opportunities and increasing competition across Europe's rail sector, Fanichet will be tasked with leading Eurostar through what could be the most ambitious growth phase in the company's history.
Imaged credit: Eurostar
