The Board of Directors of the second largest Swedish Bank Handelsbanken has fired CEO Frank Vang-Jensen (Frank Vang-Jensen) due to incompetence. On Tuesday, August 16, reports The Financial Times.
The Chairman of the Board of Directors Par Boman (Boman Par) explained that the Director General should not just tell subordinates what to do. Top managers need to provide them with the tools to implement strategic objectives, he explained.
“You can have great leadership qualities, as in the case of Frank Vang-Jensen, however, did not meet the requirements of Chapter Handelsbanken” he said.
Vang-Jensen was in charge of the Bank last year and a half. The new CEO of the Bank appointed head of the British branch of Handelsbanken Anders Bouvin (Anders Bouvin), who has worked at the Bank for over 30 years. As noted in the message of the financial organization, rearrangement, called a “personal issue” does not affect the overall strategy of the Bank.
Handelsbanken was founded in 1871. The Bank’s assets amount to 360 billion dollars. Thus, in terms of assets it occupies 22-e a place in Europe (the savings Bank — 20 th place).
