Societe Generale SA's board backed Daniel Bouton as chairman after a record trading loss at France's second-largest bank led to calls for his departure.Bouton and co-Chief-Executive Officer Philippe Citerne "ave fully assumed their responsibilities since the start of this crisis,'' board member Jean-Martin Folz told reporters at the end of a meeting outside Paris today. "The board renewed its confidence in them today.''
I would not be so confident this is how it will play out ultimately - stay tuned.
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