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SCGLF - Societe Generale - Don't Get Sucked In To This Chaotic Building Site
Societe Generle Ord
No end in sight to the restructuring
SG’s CEO Frederic Oudea is one of the longest serving bank CEOs in Europe having taken over the top job way back in 2008. But stability of management hasn’t led to stability of strategy and it is somewhat remarkable that the company still finds itself in such a state of disarray under the same CEO (the FT makes an unflattering comparison to Jamie Dimon here).
The most recent strategy convulsion was the jettisoning in February of financial plans to 2020 that had been presented to the market