By Sabela Ojea

 

Lloyds Banking Group PLC said Monday that Robin Budenberg has been appointed as the bank's new chairman to succeed Norman Blackwell and that Chief Executive Antonio Horta-Osorio has informed the board of his intention to retire in 2021.

The U.K. bank said Mr. Budenberg will join the board on Oct. 1 and take over as the new chairman in early 2021 when Mr. Blackwell steps down from the board.

Regarding the CEO position, the FTSE-100 listed lender said Mr. Horta-Osorio's transition will be made in a smooth way, with a target date of June of 2021.

"Until then he [Mr. Horta-Osório] will continue to be completely focused with the executive team on delivering the remainder of the current strategic plan, as well as the plans put in place to address the Covid 19 pandemic effects and support our customers during these difficult times," the bank said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

July 06, 2020 02:33 ET (06:33 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Grafico Azioni Lloyds Banking (LSE:LLOY)
Storico
Da Ott 2020 a Nov 2020 Clicca qui per i Grafici di Lloyds Banking
Grafico Azioni Lloyds Banking (LSE:LLOY)
Storico
Da Nov 2019 a Nov 2020 Clicca qui per i Grafici di Lloyds Banking