Orange Bank’s CEO Andre Coisne to resign

Orange Bank’s CEO Andre Coisne to resign

Orange Bank’s Chief Executive Officer, Andre Coisne, is set to leave the online bank in the next fweeks.

An official announcement is expected as early as the first half of October, Reuter reports.

Andre Coisne had previously launched online banks for ING Direct and Credit Agricole’s BforBank, and joined to lead Orange’s efforts after the company took a majority stake in Groupama Banque.

Meanwhile, Orange had set up a new management structure at its banking unit which may have spurred executive friction amid a culture clash, and the company hasn’t updated on signup progress since February.

At that point, it had 100,000 clients vs. a goal of 2M bank customers within 10 years.

Andre Coisne is set to exit the struggling operation, according to the report.