Mr Macron this afternoon named Jean Castex as France's new prime minister.
President Emmanuel Macron is seeking to open a new chapter for the two remaining years of his term that will focus on efforts to relaunch the French economy deeply hit by the coronavirus crisis. "He ensures, with the members of the government, the handling of current affairs until the appointment of the new government", said a short press release from the presidency.
Along with Philippe, who was replaced Friday in the first stage of a government reshuffle, the ministers under investigation are former health minister Agnes Buzyn - who stepped down in February for an unsuccessful bid to become mayor of Paris - and her successor Olivier Veran.
The president, who came to power in 2017 on the back of pledges to radically reform France, already has a wary eye on his 2022 re-election bid after months of protests and strikes that were followed by the coronavirus outbreak.
French President Emmanuel Macron shakes hands with Interministerial Delegate for the Olympic and Paralympic Games 2024 Jean Castex (L) flanked by President of the Paris Organising Committee of the 2024 Olympic and Paralympic Games Tony Estanguet during the inauguration of a new handball complex in Creteil, on the outskirts of Paris, France January 9, 2019.
In an interview with regional newspapers publishing late Thursday, Macron said France must prepare for a "very difficult" economic crisis, "so we have to chart a new course".
Mr Macron hopes a cabinet reshuffle will reinvigorate his party's fortunes.
Mr Castex, replaces Edouard Philippe, who was a part of the Macron Government since 2017 and resigned on Friday.
The elections revealed surging support for the Green party and underlined Mr Macron's troubles with left-leaning voters. The prime minister remained loyal during waves of unrest and rarely emerged from his boss' shadow.
The popularity of Mr Philippe had been increasing in recent weeks but there had been rising speculation that a reshuffle was imminent.