Banking Executives

LUXEMBOURG — The European General Court rejected a challenge Tuesday by the French banking group Credit Agricole after the European Central Bank refused to let it let its newly appointed chairman of the board of directors also serve in the executive role of “effective director.”

An English translation of the ruling is not available, but a press release from the court cites the ECB’s finding that “there has to be a separation of the exercise of executive and non-executive functions within a management body.”

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit