Daniel Bouton, chairman and chief executive of French bank Societe Generale, has bowed to public criticism over the Kerviel trading scandal, resigning from his post with the lender.
According to The Guardian, Bouton said the repeated attacks ended up affecting him personally: "The criticism which has targeted me has become unbearable." "The repeated attacks against me personally in France for the past 15 months affect me but most of all they risk harming the bank and its 163,000 employees," he said in a statement issued by the bank. He added: "In the present financial and economic storm priority must go to unity. It is better for me to withdraw, proud of having led a wonderful company." Full story...
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