Societe Generale SA Chairman Daniel Bouton, whose leadership came into question after a record trading loss last year, announced Wednesday that he will resign from the company.

The board of Societe Generale, France's third-largest bank, will elect a new chairman at a meeting on May 6, Bouton said by e-mail. Bouton, 59, stepped down as chief executive officer a year ago, maintaining the chairman role he had held since 1997.

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