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Rosbank CEO Sacked

Societe Generale's Russian unit Rosbank has dismissed chief executive Vladimir Golubkov following his prosecution for bribery and will launch a search for a successor, it said on Monday.

Rosbank said its board had fired Golubkov with immediate effect. His first deputy, Igor Antonov, will continue as acting CEO until a replacement can be found.

Golubkov was arrested this month after being filmed by investigators with piles of cash on his office desk. He pleaded innocent to bribery charges that, if he is convicted, could put him behind bars for seven years.

The bribery case has raised questions about strategy at SocGen, which paid an estimated 4 billion euros ($5.2 billion) to acquire 82 percent of Rosbank. The business has failed to generate meaningful profits in Russia.

(Reuters)

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