BNP Paribas CEO Moves to Reassure Investors After Setbacks

Six months after BNP Paribas SA investors voted to extend the almost 14-year tenure of Jean-Laurent Bonnafe, the chief executive officer is trying to reassure them that he hasn’t lost his touch.

With the shares trailing euro region peers since the May shareholder vote, the French lender on Thursday announced a surprise stock buyback and vowed to improve its capital strength ahead of schedule. Just two months after publishing updated targets, Bonnafe was telling markets that he wouldn’t waver in his commitment to shareholder value.