Two more join the Barclays board
Tuesday 23 April 2013
Barclays' chairman Sir David Walker further strengthened the non-executives on the bank's board yesterday with two major appointments.
The head of Starwood Hotels and Resorts Frits van Paasschen will join in August and Michael Ashley, head of quality and risk management at accountants KPMG, in September.
Mr Walker said that Ashleigh's background in ethics would be particularly valuable as Barclays changes the culture throughout the bank in the wake of several scandals.
The board was criticised last year for being too indulgent with management and failing to spot the risks from a free-wheeling, risk-taking culture under its former chief executive Bob Diamond.
Alison Carnwath quit as head of its remuneration committee in July, and said later that she had clashed with the board over Diamond's bonus.
The chairman David Walker and chief executive Antony Jenkins were picked the following month after Barclays was fined $450m (£295m) for manipulating Libor interest rates, with a brief to streamline operations and overhaul the culture of the three century old bank.
Mr Ashley will be the fourth new non-executive.Andrew Likierman, who joined the board in 2004, is stepping down. The other remaining nine non-executive directors are standing for re-election at the annual shareholder meeting on Thursday. Critics still say the changes at the top of Barclays have not gone far enough.
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