Standard Chartered PLC Directorate Change (8398G)
March 19 2020 - 10:10AM
UK Regulatory
TIDMSTAN
RNS Number : 8398G
Standard Chartered PLC
19 March 2020
19 March 2020
STANDARD CHARTERED PLC (the "Company")
ANNOUNCES NON-EXECUTIVE CHANGES ON ITS BOARD
Standard Chartered PLC (the "Company") today announces the
appointment of
Mr Phil Rivett (aged 64) as an independent non-executive
director to its Board of Directors (the "Board"). Phil will take up
his appointment on 6 May 2020 and will also join the Company's
Audit and Board Risk Committees.
Phil has a strong technical understanding and broad financial
and business experience gained over more than 40 years in various
senior positions at PricewaterhouseCoopers ("PwC"), the last seven
years of which were as Chairman of the firm's Global Financial
Services Group. Phil joined PwC as a graduate trainee accountant,
becoming Partner in 1986. He spent more than 30 years as a Partner
at PwC where he went on to become Leader of the Financial Services
Assurance practice in 2007. He was appointed Chairman of its Global
Financial Services Group in 2011.
Phil was the lead relationship partner for several large FTSE
100 companies including, a number of banks and financial services
institutions. He retired from PwC in 2018. Phil previously sat on a
number of financial services industry groups producing guidelines
for best practice in governance, financial reporting and risk
management. Phil has a Bachelor of Science degree in Physics from Imperial College, London.
Phil is currently an independent non-executive director of
Nationwide Building Society and is based in London.
After over seven years as an independent non-executive director
on the Board (appointed January 2013), and having participated as a
member of the Remuneration Committee in that time, Mr Louis Cheung
(aged 56) has decided to step down from the Board and will retire
as a director on 25 March 2020.
José Viñals, Group Chairman said:
"Phil has more than 40 years of professional accountancy and
audit experience specifically focused in the financial services
sector. He has a significant understanding of the risk factors
affecting the global financial services industry and has an
in-depth understanding of the regulatory landscape as well as
experience of operating across many of our markets. I am delighted
to welcome Phil to Standard Chartered and look forward to his
contribution in our Board and Committee discussions .
On behalf of the Board I would like to thank Louis Cheung for
his important contributions to the Group over the past seven years,
as well as his considerable insights into Asia, particularly Hong
Kong. We wish Louis Cheung all the very best for the future".
Remuneration statement in relation to Phil Rivett
The independent non-executive directors do not participate in
any of the Group's incentive arrangements. Phil Rivett will receive
a fee of GBP105,000 per annum for his services as an independent
non-executive director, with additional fees of GBP35,000 per
annum, as a member of the Audit Committee and GBP35,000 per annum,
as a member of the Board Risk Committee. This is disclosed in
accordance with the Rules Governing the Listing of Securities on
the Stock Exchange of Hong Kong Limited (the "Hong Kong Listing
Rules").
Additional information - Phil Rivett
Phil Rivett has no relationship with any other Director, member
of senior management or substantial or controlling shareholder of
Standard Chartered PLC.
Phil Rivett holds 128 shares in the Company.
Save as disclosed above, there is no other information to be
disclosed under the requirements of UK Listing Rule 9.6.13 (1-6)
and Rule 13.51(2) of the Hong Kong Listing Rules in relation to
Phil Rivett's appointment which has been notified as necessary to
the Regulator.
Additional information - Louis Cheung
There are no matters relating to the retirement of Louis Cheung
that need to be brought to the attention of the shareholders of the
Company.
END
For further information, please contact:
Shaun Gamble - Media queries
Shaun.Gamble@sc.com +44 20 7885 5934
Notes to Editors
Standard Chartered
We are a leading international banking group, with a presence in
59 markets and serve clients in a further 85. Our purpose is to
drive commerce and prosperity through our unique diversity, and our
heritage and values are expressed in our brand promise, Here for
good.
Standard Chartered PLC is listed on the London and Hong Kong
Stock Exchanges as well as the Bombay and National Stock Exchanges
in India.
For more stories and expert opinions please visit Insights at
sc.com . Follow Standard Chartered on Twitter , LinkedIn and
Facebook .
LEI: U4LOSYZ7YG4W3S5F2G91
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END
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