What the boss wants

26 Feb 2008 By Edward Hadas

The French president wants the boss of Société Générale to go. It s not necessarily a bad idea the Kerviel trading scandal raises serious doubts about the French bank s culture. But Bouton could become a symbol of resistance to meddling by the increasingly unpopular Sarko.

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French president Nicolas Sarkozy told Le Parisien newspaper that: "For someone to make 7 million euros a year does not shock me. But on one condition, that he assumes his responsibilities. That's what the problem is with Daniel Bouton."

Bouton, chairman of Société Générale, said in an interview published on 25 February that his resignation was no longer on the table, adding: I am staying, I am the pilot, I am in the driving seat. There should be no doubt about that.

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