Standard Chartered dismisses rumours on succession plans

Tags: Companies
Standard Chartered Plc dismissed media rumours that its chairman was working on a succession plan amid shareholder pressure.

Standard Chartered said in a statement late on Wednesday that it was united in its support of both Group CEO Peter Sands and Chairman Sir John Peace in restoring the bank to profitable growth.

The bank said robust and considered succession plans for all of the senior leaders were in place.

"We take our board succession extremely seriously and discuss this topic with our shareholders on a regular basis," the Standard Chartered statement said. "We will ensure orderly succession takes place at the appropriate times, and only in a responsible manner consistent with full market transparency."

The Financial Times reported that Sir John Peace is weighing a succession plan, and has been urged to conduct a search both internally and externally over the next 12 months, citing three people familiar with the matter.

EDITORIAL OF THE DAY

  • Government must wake up to the woes of electricity generators

    India is not staring at a power crisis yet, but an estimated 46,000 mw of power capacities are at risk today.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Zehra Naqvi

Minimalism: declutter your life

When you imagine an ideal place to live, you think ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture