Svein Jacobsen recently announced that he will leave Nordea Bank's board effective July 21.
Jacobsen cited an inability to comply with the new regulation on the maximum number of board assignments that goes into force on Aug. 2 as his reason for leaving, according to a press release.
Jacobsen said he deeply regrets the need to leave the board, adding that because his board position is his main occupation, it was a difficult decision.
The board will still constitute a quorum following Jacobsen's resignation and will thus not need to convene shareholders to an extraordinary general meeting to appoint a new board member until the end of its next annual general meeting.
Jacobsen has served as a member of Nordea's board since 2008.
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