Tidjane Thiam, chief executive of Prudential of the UK, knocked back an offer to join Société Générale's board after investors were astonished that he could consider such a role while trying to seal the UK life assurer's ambitious $35.5bn takeover of AIA.
Investors bombarded the Pru with calls of protest after SocGen announced on Wednesday that it would propose Mr Thiam for a non-executive directorship at its next annual meeting in May.
The news came as Pru executives are meeting investors to try to convince them to back its takeover of the Asian businesses of AIG, a deal that would double size of the group and which demands a $21bn- equivalent rights issue.
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