Outgoing Socgen CEO warm to internal successor, union says [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
Company Research
Source: Reuters
for the next 10 to 15 years after he leaves, a union representative said after meeting Frederic Oudea. FILE PHOTO: French bank Societe Generale Chief Executive Officer Frederic Oudea attends a news conference to present the company's 2015 annual results La Defense near Paris, France, February 11, 2016. REUTERS/Benoit Tessier 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 i
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