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From: peppe51	1/26/2009 8:30:10 AM
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7000....ING to take government guarantees, CEO steps down Monday January 26, 6:50 am ET By Reed Stevenson AMSTERDAM (Reuters) - ING will take a 2008 loss of 1 billion euros ($1.3 billion), tap into 22 billion euros of Dutch state loan guarantees for its troubled loan portfolio and cut 7,000 jobs, it said on Monday. Michel Tilmant will step down as chief executive, the Dutch financial group said, and will be replaced by board Chairman Jan Hommen, 65, former chief financial officer of Dutch electronics group Philips. By 1100 GMT, shares in ING, which are down 81 percent from a year earlier, were up 21 percent to 6.42 euros. The DJ Stoxx European banking index was up 5.7 percent. biz.yahoo.com

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