Outgoing Socgen CEO warm to internal successor, union says [Financial Post (Toronto, Ontario, Canada)]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
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Source: Financial Post
Advertisement One of the longest serving chief executives in European banking since the financial crisis, Oudea took investors by surprise on Tuesday, when he said he would step down in 2023 after 15 years of running the lender. Philippe Fournil, an official of the CGT union, said Oudea’s successor was expected to be announced within six months so as to allow a smooth transition period of a half year. In a note on the union’s website, Fournier wrote, “While he stressed that the choice will be made by the board of directors, Frederic Oudea insisted on the quality of the current management team and its deep knowledge of the company.” “He’s therefore leaning towards an internal choice even if the process won’t rule out any options,” added Fournier, an official of the Confederation Generale du Travail (CGT) union at the bank. In order to focus on the long term, the new chief executive would ideally be picked from a new generation aged roughly between 45 and 50, he also said in Thursd
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