PARIS--Credit Agricole SA (ACA.FR) Chief Financial Officer
Bernard Delpit will step down in May to take the same role at
French defense equipment maker Safran SA (SAF.FR), the French
companies said Monday.
In a brief statement, Credit Agricole thanked Mr. Delpit for his
commitment and achievements at the bank,
"His contributions have played a major role in stabilizing and
improving Credit Agricole's results as well as strengthening the
balance sheets, as clearly evidenced by the recently published very
good annual results," Credit Agricole chief executive Jean-Paul
Chifflet--who is set to retire this year--said in the
statement.
Last week the bank reported a 13% rise in net profit in the
final quarter of 2014, aided by falling costs and low provisions
against bad loans.
Mr. Delpit has held variety of management positions at French
companies including postal service La Poste and car maker Peugeot
SA (UG.FR). He has also worked for the government and served as
economic advisor to former President Nicolas Sarkozy from 2007 to
2009.
"Bernard Delpit's wealth of experience and outstanding financial
expertise will be a key asset for Safran," the defense company said
in a statement.
Write to William Horobin at william.horobin@wsj.com
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