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| Societe Generale chairman resigns | Societe Generale chairman resigns |
| (40 minutes later) | |
| Societe Generale's chairman Daniel Bouton has announced his resignation, saying the personal attacks against him risked "harming the bank". | Societe Generale's chairman Daniel Bouton has announced his resignation, saying the personal attacks against him risked "harming the bank". |
| Mr Bouton has faced rising criticism ever since the bank said rogue trader Jerome Kerviel had lost 4.9bn euros ($6.5bn; £4.4bn) at the start of 2008. | |
| SocGen then needed a 1.7bn-euro loan from the government in December because of the impact of the credit crisis. | SocGen then needed a 1.7bn-euro loan from the government in December because of the impact of the credit crisis. |
| Last month, SocGen bosses gave up their annual bonuses following public anger. | Last month, SocGen bosses gave up their annual bonuses following public anger. |
| 'Harming the bank' | 'Harming the bank' |
| Mr Bouton, who admitted that "like any manager I have certainly made mistakes", will now stand down on 6 May. | Mr Bouton, who admitted that "like any manager I have certainly made mistakes", will now stand down on 6 May. |
| I am choosing to go now to protect the bank Daniel Bouton, Societe Generale chairman | I am choosing to go now to protect the bank Daniel Bouton, Societe Generale chairman |
| "The repeated attacks against me personally in France for the past 15 months affect me, but most of all, they risk harming the bank and its 163,000 employees," he said. | "The repeated attacks against me personally in France for the past 15 months affect me, but most of all, they risk harming the bank and its 163,000 employees," he said. |
| "In the present financial and economic storm, priority must go to unity. It is better for me to withdraw, proud of having led a wonderful company." | "In the present financial and economic storm, priority must go to unity. It is better for me to withdraw, proud of having led a wonderful company." |
| Mr Bouton said he would be leaving without any special pay-off. | Mr Bouton said he would be leaving without any special pay-off. |
| "I am choosing to go now to protect the bank," he said. | "I am choosing to go now to protect the bank," he said. |
| He had previously also held the chief executive role, but he gave this up in May 2008 in the aftermath of the rogue trader scandal. | He had previously also held the chief executive role, but he gave this up in May 2008 in the aftermath of the rogue trader scandal. |
| SocGen said in January 2008 that it had lost 4.9bn euros because of unauthorised trades conducted by junior trader Jerome Kerviel. | SocGen said in January 2008 that it had lost 4.9bn euros because of unauthorised trades conducted by junior trader Jerome Kerviel. |
| Mr Kerviel has been charged with breach of trust, fabricating documents and illegally accessing computers; but has yet to go on trial. | Mr Kerviel has been charged with breach of trust, fabricating documents and illegally accessing computers; but has yet to go on trial. |
| He was initially jailed, but released after less than two months as police investigations continue. | He was initially jailed, but released after less than two months as police investigations continue. |