SG replaces Bouton as chief exec

Daniel Bouton, chairman and chief executive of Société Générale, will step down as chief executive on May 12.

His replacement will be Frédéric Oudea, who was named deputy CEO last month. Oudea had previously spent five years as chief financial officer. Bouton will remain as chairman.

Meanwhile, Philippe Citerne and Didier Alix will remain as co-chief executives, but Citerne will step down from the bank's board of directors. He will be replaced by an independent director.

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