Natixis Ex-Employee Asks Prosecutors to Look at CEO Payment (1)

A Natixis SA shareholder asked French prosecutors to investigate the firm’s alleged misuse of corporate assets over an exit payment to its former chief executive officer.

Francois Riahi, who left the top job in August, was awarded a severance package of 2.4 million euros ($2.9 million), which unions have criticized as too generous.

Natixis says the payment, calculated using a formula based on financial performance, was made to Riahi because two of three metrics were above target in the two years before his departure. The complaint, sent to Paris prosecutors, alleges those targets couldn’t have been met, especially ...