President Hollande has also been embarrassed by revelations that his former Socialist Party treasurer, Jean-Jacques Augier, held personal investments in two offshore companies in the Cayman Islands.
He will be joined by Michel Barnier, a conservative former minister for Europe who is loyal to President Jacques Chirac and currently a senator from his Gaullist party.
Horrified by the consequences of Thatcherite economics, first the unions and then the party turned to the social democratic Europe of Jacques Delors as a countervailing force.
Daughter of former European Commission President Jacques Delors, she is seen as someone capable of rallying the left, and has led the party since the turbulence after the 2007 defeat.