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UPDATE 3-Management reshuffle looms at France's Agricole

Sat Nov 7, 2009 3:06am IST
 
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* Chifflet to take over as CEO next year - source

* Sander to be new chairman - newspaper Le Figaro

* Bank has no comment (Updates with Le Figaro report on new chairman)

By Julien Ponthus

PARIS, Nov 6 (Reuters) - Credit Agricole (CAGR.PA: Quote, Profile, Research) will name Jean-Paul Chifflet as new chief executive of France's largest bank by branches next year, a source within the bank said on Friday, confirming a report on the website of Les Echos.

"It's a given," said the source, adding that Chifflet, the 60-year-old vice-president of the board and general manager of a local regional branch, had only very recently been picked.

Hours later, the newspaper Le Figaro said on its website that the bank's chairman, Rene Carron, would later step down and make way for Jean-Marie Sander, also an executive from within Credit Agricole.

No one at the bank was immediately available to comment.

According to the source who confirmed the news on Chifflet, another potential candidate for CEO, Jean-Frederic de Leusse, an associate general manager, lost the race after steep losses at Greek subsidiary Emporiki, which he chairs.  Continued...

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