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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must follow China on its path to the future

    There are many theories, real and imagined, doing the rounds in the national and international media about Barack Obama’s overtures to ‘rebalance

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Will the adventurous UGC succeed?

The impact of the Modi government on the education sector ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Dharmendra Khandal

Don’t interfere with nature

Just before we celebrated the news of tiger numbers swelling, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture