Societe Generale

Slawomir Krupa put forward as future CEO by the Board of Directors

Press release

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.