Swedbank Chairman Lars Idermark said on Friday he would leave his position at the bank with immediate effect, just a week after Swedbank's chief executive was ousted over her handling of a fast-growing money laundering scandal. Swedbank Chairman Lars Idermark said on Friday he would leave his position at the bank with immediate effect, just a week after Swedbank's chief executive was ousted over her handling of a fast-growing money laundering scandal. "Therefore, I have decided that the best alternative is to leave the position as Chair of Swedbank with immediate effect." Last week, Swedbank fired its CEO Birgitte Bonnesen only an hour before its annual meeting after disgruntled shareholders rounded on her handling of the money laundering allegations. Swedbank's current deputy Chairman, Ulrika Francke, will become the new chairman, Swedbank said.

Source: Irish Independent April 05, 2019 06:11 UTC