The chairman of the French bank Societe Generale has announcd his resignation.
The departure of Daniel Bouton comes amid on-going controversy over the scandal involving the junior trader Jerome Kerviel. Bouton says he wants to protect the bank from repeated criticism he has faced over the past 15 months. He previously held the joint role of chief executive and chairman but he stood down from the chief executive position last year. The bank is expected to elect a new chairman at a meeting next Wednesday.