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Prudential CEO Under Fire for SocGen Role
Copyright 2010 MarketWatch.com Inc.All Rights Reserved
MarketWatch
March 18, 2010 Thursday 3:55 AM EST
LENGTH: 142 words
HEADLINE: Prudential CEO under fire for SocGen role: report
BYLINE: Simon Kennedy
LONDON (MarketWatch) -- Tidjane Thiam, CEO of U.K. insurer Prudential PLC (uk:pru) (puk) has been criticized by shareholders for his decision to take on a non-executive directorship at Societe Generale (fr:gle) while also trying to steer Prudential through a record takeover, according to a report in the Times (of London) newspaper. The report said five major investors in Prudential said they were dismayed at the timing of the decision. Thiam is championing Prudential's $35.5 billion acquisition of the Asian assets of American International Group (aig) in a deal that will transform the group and includes one of the biggest rights issues in U.K. history. Prudential is not affiliated with the U.S. firm of the same name. © 1997-2008 MarketWatch.com, Inc. All rights reserved. See details at http://custom.marketwatch.com/custom/docs/useragreement.asp.
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