Societe Generale: Slawomir Krupa put forward as future CEO by the Board of DirectorsSource: OMX
Paris, 30 September 2022 – 5 p.m.
At its meeting on 30 September 2022, the Board of Directors of Societe Generale, chaired by Lorenzo Bini Smaghi, decided unanimously, on the suggestion of the Appointments Committee and the Corporate Governance Committee, to put forward to the shareholders at the Annual General Meeting on the 23 May 2023 Slawomir Krupa as director to take over from Frédéric Oudéa who announced, at the Annual General Meeting of 17 May 2022 that he will not ask for the renewal of his term of office. Once voted in, Slawomir Krupa will be appointed Chief Executive Officer by the Board of Directors.
This choice is entirely within the time frame set out at the Annual General Meeting of 17 May 2022.
The appointment process was conducted in accordance with the highest standards of governance by Lorenzo Bini Smaghi, Chairman of the Board of Directors, in coordination with the Appointments and Corporate Governance Committee, chaired by Gérard Mestrallet, bringing together all the independent directors in interaction with the entire Board of Directors. He was advised by independent consultancy firm and reviewed the panel of candidates of a high calibre, both men and women, from both inside and outside the company, French and international.
The European Central Bank was kept informed throughout the selection process.
Lorenzo Bini Smaghi, Chairman of the Board of Directors stated:
“I commend the excellent work of our independent directors, carried out under the supervision of Gérard Mestrallet, as well as the professionalism and rigour of the appointment process, as per the expectations expressed by our shareholders. On behalf of the Board of Directors, I am pleased with the choice that was made.
I have worked with Slawomir Krupa for several years. He has perfect knowledge of our Bank, as well as the challenges that await him; he has demonstrated his ability to lead Societe Generale, a major European bank.
His first mission will be to finalise the vast transformations in progress, such as the merger of the French networks, the acquisition of LeasePlan by ALD, the expansion of Boursorama, and the continued development of the corporate and investment bank, recentred on its core businesses. We appreciated in particular his potential to accelerate the development of Societe Generale as a responsible bank that is close to its customers and able to generate higher and sustainable profitability. He demonstrated an innovative spirit and a keen ability to rally the teams, giving him all the qualities needed to unite the Bank’s energies and step up the pace of the transformations required in a fast-changing global environment.
On behalf of the Board of Directors, I thank Frédéric Oudéa as he continues the implementation of the Bank’s strategy and works alongside his successor over the transition period.”
BIOGRAPHY OF SLAWOMIR KRUPA
Slawomir Krupa has over 26 years of experience in the international financial sector.
He joined the Societe Generale Group in 1996 and began his career as an inspector at the General Inspection. In 1999, he left the Group to found and manage an e-finance start-up in eastern Europe. He returned to the Group in 2002 in the General Inspection department where he was made a member of its management team in 2005. During his time at the General Inspection, he acquired an extensive and in-depth knowledge of the operations and challenges of financial institutions around the world.
In 2007, he joined the Corporate and Investment Banking division, where he took on successive responsibilities that enabled him to broaden further his expertise and his knowledge of the bank’s businesses, serving its large international clients.
In 2007, he was Director of Strategy and Development, head of Central and Eastern Europe, Middle-East and Africa (CEEMEA) in 2009, and Deputy Director of Financing in 2012, supervising in particular the primary markets business, securitisation and leveraged financing, while maintaining his regional responsibilities, which were extended in 2013 to include Private Banking, Asset Management, and Securities.
Appointed CEO of SG Americas in January 2016, he oversaw the turnaround of the Americas platform, both in terms of business performance and risk management, in a challenging regulatory environment.
In January 2021, he joined the Group’s Executive Management team as Head of Global Banking and Investor Solutions. He strengthened the division by defining for its businesses a profitable and sustainable growth strategy, which he oversaw for 18 months. In doing so, he restored the trust of the stakeholders of this core business through an effective programme of risk reduction, cost control, and diversification of the business portfolio to seize development opportunities. He has also initiated an in-depth transformation of the business lines towards a sustainable growth model “ESG by Design”.
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Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 117,000 members of staff in 66 countries and supports on a daily basis 25 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
- French Retail Banking which encompasses the Societe Generale, Credit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial Services, with networks in Africa, Central and Eastern Europe and specialised businesses that are leaders in their markets;
- Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
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