By Olivia Bugault

French banking giant Societe Generale SA on Tuesday said its board of directors approved several management reorganization proposals from its Chief Executive Frederic Oudea.

The bank said its board agreed to have two deputy CEOs instead of four and to create new positions of deputy general managers.

The duties of deputy CEO Philippe Aymerich will be expanded after the departure of Philippe Heim, while Diony Lebot--deputy CEO currently in charge of risk and compliance--will also be entrusted with more tasks, Societe Generale said.

Meanwhile, Severin Cabannes will step down as deputy CEO at the end of the year, and Slawomir Krupa, current head of global banking and investor solutions for the Americas, Sebastien Proto--currently head of group strategy--and Chief Financial Officer William Kadouch-Chassaing are appointed deputy general managers with different supervision roles and starting dates.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

August 04, 2020 03:48 ET (07:48 GMT)

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