The chairman of the board of directors at the Banque Cantonale du Valais, Jean-Daniel Papilloud, is to step down from his role, the cantonal bank has announced.
The chairman announced that he plans to leave his position following the general assembly on 16 May 2018.
Papilloud started his career at Credit Suisse, before joining the BCV, where he remained for 26 years.
He said: ‘I have taken this decision with the awareness that I have been contributing loyally to the development and success of the institution day after day.’
During his time at BCV, Papilloud served in the role of CEO from 1992 to 2012, before being appointed vice-president of the board of directors. He was then nominated chairman of the board of directors in 2013 and was reconfirmed in the role on 26 April 2017.
Under his guidance, the BVC became the first cantonal bank to be publicly listed on the Swiss stock market.
On 16 May 2018, the general assembly will elect a new member of the board of directors and nominate a new president.