France's Lagarde not sure SocGen needs new captain

Tue Jan 29, 2008 2:49pm EST
 
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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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