Lord Burns steps down from Santander board
Lord Burns, the former civil servant turned serial company director, is step down from the board of Banco Santander after more than a decade.
But he will stay on as chairman of Santander UK, which is significant as the unit prepares for its long awaited flotation on the London Stock Exchange.
A former permanent secretary to the Treasury and current chairman of Channel 4, Lord Burns has enjoyed a string of high profile roles since quitting the public sector including a stint as chairman of Marks & Spencer.
Santander has had a habit of spinning off its subsidiaries in various countries, while retaining majority control of the newly floated businesses. The flotation of the UK arm has been complicated by various issues including the huge weight of banking shares coming to market including the Government's stakes in Royal Bank of Scotland and Lloyds. While the former faces a host of challenges and is unlikely to see any change in its status until well into the next Parliament, the taxpayer's stake in Lloyds is set to be further sold down this year after the successful disposal of the first tranche in 2013.
Oscar Pistorius trial: Defence's own witness contradicts athlete's version of events
Oscar Pistorius trial: The case against Oscar Pistorius – and why the prosecution claims his story doesn't add up
South Korea ferry: Captain Lee Joon-seok could face criminal investigation as over 280 remain missing
Peaches Geldof dead: Private funeral for the family and friends of the socialite will take place next week
Shropshire criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
- 2 The Hobbit: There and Back Again set for possible title change
- 3 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...