Stressed bank boss told: reapply for your job

Click to follow
The Independent Online

If Antonio Horta-Osorio really has recovered from his exhaustion, he could soon be suffering from it again once his marathon re-application for the top job at Lloyds is over.

The chief executive, who temporarily stood down from his role at the bank last month, citing fatigue, has reportedly decided he is ready to take the reins once again. But Mr Horta-Osorio has been told he must first meet every member of the company's board individually – 11 separate interviews – to explain what led to his shock admission of exhaustion, and how he plans to stop it happening again. The directors have also apparently demanded a thorough medical examination of their Portuguese boss before they make the decision.

Mr Horta-Osario is having his tests now, according to the BBC, and the board will make their announcement shortly before Christmas. He has been described as the ultimate micro-manager, and investors are thought to be sceptical that he will be able to delegate work to colleagues in such a way that he does not bring undue stress upon himself. Figures outside Lloyds also doubt whether Mr Horta-Osario will subject himself to such demands – even with an £8m salary in the balance.