Wolf of Swedish Banking Is Catalyst for Shareholder Revolt
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The sudden dismissal of one of Sweden’s most successful bank executives has fueled debate on the real reasons behind the move and whether it’s enough to satisfy shareholders.
Swedbank’s board on Tuesday fired its chief executive officer, 52-year-old Michael Wolf, who had led the biggest Swedish mortgage lender since early 2009. The reason given was a need for change. But Swedish media have been quick to suggest the firing was linked to some questionable real estate deals carried out under Wolf’s watch.