Fortis names new CEO after shares plunge

Fortis Names Ceo Shares Plunge - Politics, Business, Civil, History - Posted: 26th Sep, 2008 - 7:54pm

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Business - European Economy
Post Date: 26th Sep, 2008 - 7:54pm / Post ID: #

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Fortis names new CEO after shares plunge

Fortis names new CEO after shares plunge (AP)
European Business News

Fortis head office in Utrecht, Netherlands, Friday Sept. 26, 2008. Fortis NV plans to raise up to US$14.6 billion by selling assets in a move to improve its financial underpinnings, the chief executive of the Dutch-Belgian banking and insurance company said Friday, seeking to reassure customers and investors. Fortis shares fell 10 percent to 5.84 euros (US$8.21) in midday trading in Amsterdam, slightly above 52-week lows reached on Thursday. Its shares have lost more than two-thirds of their value since January. (AP Photo/Peter Dejong)AP - Fortis NV named a new chief executive officer on Friday, after the banking and insurance company's shares fell 21 percent over worries about its solvency.



Source: Yahoo! News: Business - European Economy

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