Of course, the Société générale (SG) has faced more severe storms. Fraud is huge. Two takeover bids (OPA) hostile. Of financial crises. Nothing like that is on the horizon, at this point. However, the ship pitching. The hasty departure, the 14th of march, Didier Valet – right arm and dauphin putative of the director-general, Frédéric Oudéa –, under the pressure of the american authorities, in the framework of an investigation into a possible manipulation of the interbank rate Libor, has highlighted the fragility of the Society in general.
On 3 may, seven weeks after the departure of Mr. Jack, Mr. Oudéa has unveiled a new staff that has hardly convinced. “It is of the new with the old,” said a connoisseur of the bank. The question of who might be the successor of Mr. Oudéa, in particular, seems wide open. “There are immediate solutions, in the event of a crisis, a doubt, the director-general, questioned by The World. In the longer term, we are up in their fifties quality to ensure the continuity, while helping them to grow. This new organizational structure should enable the council to choose, eventually, between three or four people. “
“It’s been ten years that he held the bank, and these are not the years the most successful for the Company overall ”
According to various sources, Laurent Mignon, the current boss of Natixis, has been approached by the administrators of the SG, before being enthroned at the head of BPCE. Complicated, also, to seek high caliber, when their prospect of becoming number one is moving away, the board of directors assured Mr. Oudéa of renewal until 2022. “In any business, a succession-house is the priority. There has never been any question that a leader from the outside may soon succeed me. In this type of recruitment, there is a chance that the newcomer will not be able to integrate “,…
