By Ruth Bender
PARIS--Société Générale SA said on Monday that it will appoint
Lorenzo Bini Smaghi as chairman, splitting the joint chairman and
chief executive role currently held by Frédéric Oudéa, who will
remain CEO.
The French bank said the separation of the CEO and chairman
posts will follow its annual shareholder meeting on May 19.
"This change in corporate governance, prepared in 2014, meets
the requirements applicable to banks in Europe," Société Générale
said.
Mr. Bini Smaghi, an Italian economist, is currently second vice
chairman of the board.
Mr. Oudea had held the title of CEO and chairman since 2009.
Société Générale also said it will propose two new independent
directors, including GDF Suez SA's CEO and Chairman Gérard
Mestrallet.
Anthony Wyand, who is currently vice chairman of the board along
with Mr. Bini Smaghi, didn't wish for his term to be renewed, the
bank said.
Write to Ruth Bender at Ruth.Bender@wsj.com
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