Grant to take a back seat at BoS
Wednesday 26 May 1999
Sir Alistair, 62, is understood to have been suffering from cancer and has asked for time off to complete his recovery after a series of operations.
His job at Bank of Scotland will be filled for the time being by his deputy Sir John Shaw, while Brian Stewart, the chief executive and deputy chairman, will stand in at Scottish & Newcastle.
Mr Stewart said yesterday that he and his colleagues on the board were "looking forward to Sir Alistair making a speedy recovery".
Peter Burt, the chief executive, was travelling yesterday and was unavailable for comment. However, in a statement yesterday the bank said: "Sir Alistair Grant has decided that, in order to assist his complete recovery from recent ill health, he wishes to step down as Governor of the Bank of Scotland for a period."
Sir Alistair, the former chairman of the supermarkets group Safeway, had been chairman at the bank for barely a year, having stepped up to the post only last May following the retirement of his predecessor, Sir Bruce Pattullo.
His appointment had been expected to signal a change in style for what has traditionally been a very conservative bank. However, because of his illness, he has been unable to devote himself as fully to the job as he might have wished.
Bank of Scotland insisted yesterday that the intention was for Sir Alistair to return to the chairmanship at a later date. To this end, he will stay on as a director in order to maintain his involvement with the bank's affairs.
However, he will not be seeking formal re-election as Governor, as the Bank of Scotland chairmen are known, at the bank's annual meeting on 15 June. He has been on the Bank of Scotland's board since 1992.
Bank of Scotland had hoped to keep Sir Alistair's illness out of the public eye. However, it is understood that the bank was forced to make a statement yesterday clarifying the position because of the need to notify shareholders in advance of the motions to be voted on at the annual meeting.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Germany and ECB set for fight over money-printing
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...