Chairman of Lloyds Banking Group set to stand down
Monday 13 May 2013
The chairman of Lloyds Banking Group is to step aside within the next year after hailing "significant progress" in the bank's recovery plan.
Since becoming chairman in September 2009, Sir Win Bischoff has worked with management in stabilising the business and readying it for the potential sale of the Government's 39% shareholding.
He will retire no later than next year's shareholder meeting in May 2014, with the exact date subject to the appointment of his successor.
Sir Win said: "Lloyds Banking Group has, over the past four years, made significant progress in its goal to become a strong, efficient, UK-focused retail and commercial bank.
"Whilst clearly some challenges remain, the performance of the group is well on track. Indeed, in many areas, it is ahead of plan. This gives me every confidence in the future success of the group and it is therefore a good time to start the search for my successor."
Lloyds will hold its annual meeting on Thursday, having recently announced a big jump in profits for the first quarter of this year.
The Government is expected to begin the process of reprivatising Lloyds and Royal Bank of Scotland (RBS) before the general election in 2015.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 3 Why I'm on the brink of burning my Israeli passport
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Pope Francis: ‘One in 50’ Catholic priests, bishops and cardinals is a paedophile
Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Supermoon 2014 in pictures: The moon appeared bigger and brighter at the weekend
Saharan remains may be evidence of first race war, 13,000 years ago
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...