(Bloomberg) -- ABN Amro Bank NV Chief Executive Officer Robert Swaak’s decision last week to resign eclipsed a positive earnings day for the Dutch lender as investors and journalists peppered him with questions that he largely ducked.
Swaak said he’ll leave the firm next year in a stunning announcement that came about three months after he got reappointed for a new term and without presenting a successor. The decision left people scratching their heads as Swaak didn’t provide a clear reason for his move — and he again refused to give more details during results presentations on Wednesday.
“What I’m slightly failing to understand is why the decision to step down was not taken and announced earlier,” ING analyst Jason Kalamboussis said on an earnings call, asking the CEO to provide an explanation.
Swaak only replied that the first half of next year would be “a good period” for him to step down. He also said his early departure is “in the best interest of the bank” without elaborating why serving only one year out of his four-year term might be positive for the company or its shareholders.
ABN Amro reported second-quarter earnings on Wednesday and lifted its full-year guidance for net interest income. The shares rose as much as 5.9%.
Still, Swaak’s resignation also dominated the following media call, with journalists asking what would come next for him.
Once again, Swaak didn’t say much in response. He’s focused on ABN Amro while CEO, he said, and as for any potential new role, he’ll “cross the bridge when we get there.”
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