Societe Generale SA’s employees have indicated in a poll that their faith in decisions taken by Chief Executive Officer Slawomir Krupa and his lieutenants is shrinking, potentially making it harder for him to implement a strategy that so far has failed to convince investors.
The share of staffers who say they trust the choices made by SocGen’s top management fell by 4 percentage points from the previous survey to 53%, according to internal documents seen by Bloomberg News. The results are from a poll conducted about a month after Krupa presented a new strategy for the lender in September.
In addition, only 42% of the participating SocGen staff said they believe the bank’s strategy is headed the right way.
While that’s an uptick from the previous survey, it’s below the 66% cited as the industry benchmark by polling firm Ipsos in the documents.
In a memo to staff discussing the results and also seen by Bloomberg, Krupa highlighted that 76% of respondents said they’re proud to work for SocGen, which he said is equal to an increase of 3 percentage points on the previous poll. He pointed out that “engagement” — a compound metric that includes the answers to the question about trust in leadership decisions — remained “stable” at 64%.