Nicolas Théry, president of Crédit Mutuel Alliance Fédérale since 2014, will leave his position in April and must be replaced by general manager Daniel Baal, the entity which brings together 14 of the 18 regional federations of the Crédit Mutuel group and the CIC announced on Tuesday.
Mr. Thry, 58, was re-elected in May 2022 for a three-year term, until 2025. At the beginning of February, he presented record results achieved in 2023, with a record group net profit of €3.94 billion. euros.
MM. Thry and Baal have accelerated the development of Crdit Mutuel Alliance Fdrale to reach the position of 9th bank in the euro zone, noted in a press release the company, whose headquarters is in Strasbourg.
Mr. Thry will also leave the presidency of the National Confederation of Crdit Mutuel, which associates Crdit Mutuel Alliance Fdrale and the Crdit Mutuel Arka federations, a position he has held since 2016. Mr. Baal, 66, must also replace him in this function.
A pass valid at the beginning of April
One of Mr. Thry’s feats of arms was to make peace with Crdit Mutuel Arka, from which the federations wanted to secede. It also created a social dividend in 2023, an initiative consisting of allocating each year 15% of net profit to support environmental and solidarity projects.
The deputy general director of Crdit Mutuel Alliance Fdrale, Eric Petitgand, is to become general director in place of Mr. Baal – who has held this position since 2017 -, according to the press release. These changes must be approved by the management bodies on April 4 and 5.
A few years ago, the chairman of the appointments committee asked me to appoint a person who could succeed me if I did the Zouave by bike, declared Mr. Thry to Le Figaro. I answered Daniel Baal. From now on, I want to have another personal balance and make better use of my free time, even if I have not yet defined how, he noted. This has been on my mind for some time. In my thinking, it was now or in six or seven years.
He will devote himself, according to the press release, to the challenges of the ecological, climatic and solidarity revolution, as advisor to the new president and to the Crdit Mutuel pour la lecture foundation. Former advisor to Dominique Strauss-Kahn and Laurent Fabius at the Minister of the Economy, this left-wing narcissist moved to the CFDT with Nicole Notat, then to the European Commission, notably as chief of staff to Pascal Lamy, then European Commissioner for Trade.
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