Eurotunnel operates shuttle services and manages the tunnel

The Anglo French company will this week propose Philippe Bourguignon as successor to outgoing chairman Charles Mackay at its annual meeting next month.

The debt-laden group is hoping the appointment of the 56-year-old Frenchman will head off a bid by rebel French shareholders to overthrow its board of directors at the meeting in Paris on 7 April.

The shareholders, led by maverick financier Nicolas Miguet, are angry about recent falls in the company's share price and want more French people elected to the board.

In demand?

Mr Bourguignon has been labelled "France's self-appointed Mr Fixit" after turning round the fortunes of Euro Disney as its chief executive between 1993 and 1997.

The Frenchman, who is understood to be stepping down from his current role as co-chief executive of the Swiss-based World Economic Forum, is credited with successfully restructuring the finances of the theme park near Paris and returning it to profit.

From April 1997 to January 2003, Mr Bourguignon was also chairman and chief executive of the French holiday company Club Med.

If Eurotunnel's board survives the vote on April 7 and Mr Bourguignon succeeds Mr Mackay, he will be expected to oversee a proposed financial restructuring aimed at cutting Eurotunnel's �6.4 billion debt pile.

The turnaround plan, known as Project Galaxie, includes proposals to cut access rates to the tunnel for Eurostar high speed passenger trains, and freight operators EWS and SNCF.

Eurotunnel is also planning to start its own rail freight service between Kent and continental Europe next year.