BNP Paribas chief exec in line to become board chairman

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BNP Paribas Board Chairman Michel Pebereau said Wednesday he will propose chief executive Baudouin Prot take over his post, with chief operating officer Jean-Laurent Bonnafe to manage the French Bank.

The change will take place on December 1, with the board of directors to make the final decision, Pebereau told a general shareholders meeting.

Pebereau had been re-elected board chairman earlier this month for another year, but according to the company's bylaws cannot remain in the post after the 2012 general shareholders meeting.

Prot had been widely expected to be first in line to take over from Pebereau, who has spent 18 years on the bank's board.

© 2011 AFP

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