Lloyds Appoints Robin Budenberg as Chairman; CEO to Retire in 2021
July 06 2020 - 2:48AM
Dow Jones News
By Sabela Ojea
Lloyds Banking Group PLC said Monday that Robin Budenberg has
been appointed as the bank's new chairman to succeed Norman
Blackwell and that Chief Executive Antonio Horta-Osorio has
informed the board of his intention to retire in 2021.
The U.K. bank said Mr. Budenberg will join the board on Oct. 1
and take over as the new chairman in early 2021 when Mr. Blackwell
steps down from the board.
Regarding the CEO position, the FTSE-100 listed lender said Mr.
Horta-Osorio's transition will be made in a smooth way, with a
target date of June of 2021.
"Until then he [Mr. Horta-Osório] will continue to be completely
focused with the executive team on delivering the remainder of the
current strategic plan, as well as the plans put in place to
address the Covid 19 pandemic effects and support our customers
during these difficult times," the bank said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 06, 2020 02:33 ET (06:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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