Homepage | NEWS | Economy | Finance | Your Money - Details
Pressure Mounts for Resignation at French

 PARIS — Senior politicians here increased calls for the resignation of top executives at Société Générale, ahead of the board’s regular meeting, scheduled for early Wednesday.

“The pressure is very, very strong,” one of the bank’s directors said. “The politicians want a head to roll.”

The director, who declined to be identified because of the delicacy of the situation, predicted that the bank’s chairman and chief executive, Daniel Bouton — and possibly one or two other senior managers — would be asked to step down as early as Wednesday. But he and other board members stopped short of saying that Mr. Bouton’s departure was a foregone conclusion.

Amid increasing political pressure on the bank’s management, employee groups revealed that three employees working on Société Générale’s trading desk had committed suicide in the last three years, at least partly because of stressful working conditions, the groups said.

On Monday the French president, Nicolas Sarkozy, said top executives should face “consequences” for the 4.8 billion euro loss, or $7.1 billion, tied

1 2 3 4 5 6

About Us

Add to Favorite

  Copyright © Kobi21.com 2006-2017