By Reuters Staff
2 Min Read
AMSTERDAM (Reuters) - ABN Amro shares fell 4% in early trading in Amsterdam on Monday, following reports that the Dutch bank might face a higher-than-expected penalty in an ongoing money laundering investigation.
FILE PHOTO: ABN AMRO logo is seen at the headquarters in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de Wouw
The bank’s annual report published last week described an investigation by Dutch prosecutors, started in September 2019, which was broader than previously stated. It said it was now also suspected of “culpable money laundering”.
Previously, the allegations had been limited to ABN failing to spot accounts involved in money laundering, failing to end relations with suspicious clients and failing to report such transactions to the relevant authorities.
By Reuters Staff
2 Min Read
(Reuters) - Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, replaced immediately by Gilles Schnepp as non-executive chairman, while Veronique Penchienati-Bosetta and Shane Grant will serve as CEO and deputy CEO on an interim basis.
FILE PHOTO: A company logo is seen on a product displayed before French food group Danone s 2019 annual results presentation in Paris, France, February 26, 2020. REUTERS/Christian Hartmann
The maker of Activia yoghurt faced growing calls from some shareholders to replace Faber, 57, who became chief executive in 2014 and chairman three years later.
To try to appease critics, Faber said in early March he would relinquish his role as CEO but stay on as chairman.
UPDATE 1-PostNL expects digital shift to lift core earnings reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Dutch postal firm PostNL said on Monday it would speed up its digital transformation to improve its business performance, particularly in its parcels unit.
Saint-Gobain to surf on the renovation wave, CEO will step down reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.