Ulrika Francke will take over as acting chair of the Swedbank board, following Lars Idermark’s decision to step down on Friday. In a statement issued by the bank, Idermark said he had concluded that the media attention was not compatible with his role as CEO at Södra and that he had therefore decided to leave the board of the beleaguered bank with immediate effect.
An extraordinary general meeting will be held as soon as an external recruitment firm has found a replacement for Idermark. It is expected that several others members of the board will be replaced as well.
While welcoming Idermark’s decision to step down, Financial Markets Minister Per Bolund says more is required, including a comprehensive review of the bank’s anti-money laundering procedures.
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