BNP Paribas aims to raise age limit for chairman -filing
PARIS (Reuters) - BNP Paribas is aiming to change its bylaws to allow Chairman Jean Lemierre to stay in his role beyond his current age of 72, the eurozone's biggest bank said in a regulatory filing.
The French lender will put a resolution to shareholders seeking to raise the age limit of its non-executive chairman role to 75 from 72, according a formal notice filed on Monday to authorities.
The bank's general meeting is scheduled on May 16.
BNP Paribas will also ask shareholders allow the board, once the 75 age threshold is reached, to prolong the chairman's mandate by an additional year.
Born in 1950, Lemierre was named BNP Paribas' chairman in 2014, replacing Baudouin Prot.
He's a former president of the European Bank for Reconstruction and Development and led the French Treasury between 1995 and 2000.
He also sits on the board of French oil major TotalEnergies.
The newspaper Les Echos was first to report BNP's plan to extend its chairman's mandate.
(Reporting by Mathieu Rosemain; editing by Jason Neely)