PARIS, Feb 28 (Reuters) – BNP Paribas (BNPP.PA) is aiming to alter its bylaws to permit Chairman Jean Lemierre to remain in his function past his present age of 72, the eurozone’s largest financial institution mentioned in a regulatory submitting.
The French lender will put a decision to shareholders looking for to lift the age restrict of its non-executive chairman function to 75 from 72, in accordance a proper discover filed on Monday to authorities.
The financial institution’s normal assembly is scheduled on Might 16.
BNP Paribas may also ask shareholders permit the board, as soon as the 75 age threshold is reached, to lengthen the chairman’s mandate by a further yr.
Born in 1950, Lemierre was named BNP Paribas’ chairman in 2014, changing Baudouin Prot.
He is a former president of the European Financial institution for Reconstruction and Improvement and led the French Treasury between 1995 and 2000.
He additionally sits on the board of French oil main TotalEnergies (TTEF.PA).
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The newspaper Les Echos was first to report BNP’s plan to increase its chairman’s mandate.
Reporting by Mathieu Rosemain; modifying by Jason Neely
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