The resignation of the entire board of directors at European financial group Fortis is to be announced at two shareholders meetings on December 1 and 2, the company said on Wednesday.

Fortis, which has been broken up – with all activities in the Netherlands in the hands of the Dutch government – will appoint Karel De Boeck as its new CEO, the fourth man to hold the job this year.
He replaces Filip Dierckx, who is moving to France’s BNP Paribas, which now owns a chunk of Fortis’ Belgian activities.
Dierckx replaced Herman Verwijlst just before Fortis was bailed out by the Dutch and Belgian governments.
Verwijlst himself had succeeded Jean-Paul Votron in July, who resigned after coming under fire for misleading shareholders.
Etienne Davignon is to be nominated as new chairman, replacing Maurice Lippens who quit at the end of September.
For the full Fortis statement, click here