Laurentian Bank Says Desjardins Is Stepping Down as CEO
- ‘The bank remains in a strong position,’ chairman says
- Stephane Therrien is named interim president and CEO
Francois Desjardins.
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Laurentian Bank of Canada said Francois Desjardins is stepping down as president and chief executive officer of the Montreal-based lender.
Desjardins, who departs on June 30, is leaving after leading Canada’s seventh-largest domestic lender for almost five years, a period that included overseeing a seven-year transformation plan, mortgage mishaps due to documentation issues and client misrepresentations and, most recently, a rare dividend cut prompted by the economic impacts of the coronavirus pandemic. Desjardins, 49, is also resigning as director.