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SocGen deputy CEO resigns

Didier Valet is leaving Société Générale SA, where he is deputy CEO.

He resigned, according to the Paris-based company's press release, in light of a "divergence of approaches" in Société Générale's management of a certain legal issue. That issue is in connection with LIBOR-rigging allegations, the Financial Times reported, citing "two people briefed on the matter." The FT's sources said Valet and CEO Frédéric Oudéa had differed on the handling of investigations by the U.S. Justice Department and Commodity Futures Trading Commission.

Valet's successor "will be announced shortly." Oudéa will assume his responsibilities in the interim.