By Tapan Panchal

LONDON--Standard Chartered PLC (STAN.LN) Thursday denied any succession planning for its Chief Executive Officer Peter Sands and Chairman Sir John Peace due to pressure from investors.

"The board wants to be absolutely clear that it is united in its support of both Peter Sands and Sir John Peace, and the management team, in delivering the refreshed strategy, restoring the bank to profitable growth and delivering returns for our shareholders," the London-listed bank said in response to media reports.

Institutional shareholders contacted by The Times of London had said there was a widespread feeling that the leadership team needed refreshing after two profit warnings in seven months and pointed to Mr. Sands as their preferred scalp, The Times wrote.

Write to Tapan Panchal at tapan.panchal@wsj.com

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