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Aerospace and Defense

Defense budgets are not declining as sharply as some had feared, but companies are scrambling to ensure continued earnings growth. Get exclusive insight into the defense sector from the Reuters Aerospace and Defense Summit.  Full Coverage 

    France's Lagarde not sure SocGen needs new captain

    PARIS
    Tue Jan 29, 2008 2:49pm EST
    France's Finance Minister Christine Lagarde speaks at a session at the World Economic Forum (WEF) in Davos January 26, 2008. Lagarde said on Tuesday she was not convinced that there was a need for new leadership at Societe Generale, but she later said she was simply using a seafaring analogy. REUTERS/Stefan Wermuth

    PARIS (Reuters) - French Economy Minister Christine Lagarde said on Tuesday she was not convinced that there was a need for new leadership at Societe Generale, but she later said she was simply using a seafaring analogy.

    "I am not convinced that when we are in a regatta and the boat pitches a bit, it is in our interest to change the captain," she told a committee of the upper house of Parliament when asked whether Societe Generale needed a new leader.

    She later said that she was speaking generally, not about Societe Generale specifically, and that it was up to the company to decide.

    (Reporting by Francois Murphy and Anna Willard)


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