France-based Groupe BPCE said May 24 that its supervisory board elected Pierre Valentin and Thierry Cahn chairman and vice chairman, respectively.

Valentin, who will also continue as chairman of Caisse d'Épargne du Languedoc Roussillon's supervisory board, will replace Michel Grass in his new role at Groupe BPCE. Cahn is also the chairman of the board of directors at Banque Populaire Alsace Lorraine Champagne SAC.

Groupe BPCE's management board remains unchanged.