TIDMBARC TIDM96ES
RNS Number : 5174R
Barclays PLC
12 September 2014
12 September 2014
Barclays PLC
John McFarlane appointed to succeed Sir David Walker as
Chairman
Barclays PLC and Barclays Bank PLC ("Barclays") announce that
John McFarlane has been appointed as a non-executive Director of
Barclays with effect from 1 January 2015 and will succeed Sir David
Walker as Chairman of Barclays with effect from the conclusion of
the Barclays PLC AGM in 2015.
Sir David Walker will step down as a Director and as Chairman of
Barclays with effect from the conclusion of the Barclays AGM in
2015.
John McFarlane is currently Chairman of Aviva plc, having joined
the Aviva Board in September 2011 and becoming Chairman in July
2012. He is also Chairman of FirstGroup plc and he will be stepping
down from both positions at the conclusion of their AGMs in April
and July 2015, respectively. Barclays is grateful to Aviva and
FirstGroup for agreeing to release Mr McFarlane to take on this
important role. The appointment has been approved by the Prudential
Regulation Authority and the Financial Conduct Authority.
Mr McFarlane will remain a non-executive Director of Westfield
Holdings Ltd and Old Oak Holdings Ltd.
Mr McFarlane has a strong track record as a CEO and subsequently
as a Chairman. He brings extensive experience of investment,
corporate and retail banking, as well as insurance, strategy, risk
and cultural change.
Mr McFarlane served as Chief Executive Officer of Australia and
New Zealand Banking Group (ANZ) from1997 to 2007 and prior to that
was a group Executive Director at Standard Chartered. He has also
held senior positions at Citicorp, including as Managing Director
of Citicorp Investment Bank and later head of Citicorp and Citibank
in the UK and Ireland. His past non-executive directorships include
Royal Bank of Scotland Group and Capital Radio.
Commenting, Sir David Walker said, "I am delighted that Barclays
has appointed John McFarlane to succeed me as Chairman. We are
making good progress toward the delivery of our strategic
objectives and I have every confidence that John will work very
successfully with Antony Jenkins in leading this great bank through
the next phase of that journey.
Sir John Sunderland, who led the process to appoint a successor
to Sir David Walker, said today, "The Barclays Board set very
challenging requirements for its new Chairman and I am very pleased
that in John McFarlane we have identified someone who met all of
our criteria. John is an enormously experienced and respected
banker with global experience of both retail and investment banking
and he will bring great leadership, integrity and knowledge to the
role."
John McFarlane commented "I am looking forward enormously to
joining the Barclays Board and to working with my fellow
non-executive Directors, Antony Jenkins and his leadership team to
deliver the strategy that Barclays has committed to and which I
fully support. Under Sir David's leadership Barclays has made
significant progress in putting in place the foundations for
sustainable, long term success. I am very excited to be asked to
Chair Barclays as it enters the next, important stage of its long
history."
-ENDS-
Biographical details are attached.
Contractual arrangements are attached:
For further information, please contact:
Barclays
Investor Relations Media Relations
Charlie Rozes Giles Croot
+44 (0) 20 7116 5752 +44 (0) 20 7116 6132
About Barclays
Barclays is an international financial services provider engaged
in personal banking, credit cards, corporate and investment banking
and wealth management with an extensive presence in Europe, the
Americas, Africa and Asia. Barclays' purpose is to help people
achieve their ambitions - in the right way.
With over 300 years of history and expertise in banking,
Barclays operates in over 50 countries and employs approximately
135,000 people. Barclays moves, lends, invests and protects money
for customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com.
Biographical notes: John McFarlane, OBE
Education:
1975 Cranfield School of Management, Bedford,
MBA
1969 University of Edinburgh, MA
Current positions:
2012 - date Aviva plc, Chairman
2014 - date FirstGroup Plc, Chairman
2008 - date Old Oak Holdings Ltd, non-executive Director
2008 - date Westfield Holdings Ltd, non-executive Director
Career summary:
1997 - 2007 Australia & New Zealand Banking Group LTD.
Chief Executive Officer
1993 - 1997 Standard Chartered PLC
Group Executive Director
1993 -1995 Head, Group Strategy, Institutional Banking and
Markets, Credit
1995 -1996 Head, North Asia, Hong Kong
1996 -1997 Head, Europe, Americas, South Asia, Middle East,
Africa
1975 - 1993 Citicorp/Citibank
1990 -1993 Head, Citicorp/Citibank United Kingdom & Ireland
1987 -1990 Head, Citicorp Investment Bank Ltd, London
1983 -1987 Head, Treasury Marketing, FX and Interest Rate
Derivatives Trading, London
1980 - 1983 VP, Human Resources, Institutional Bank, London
1978 - 1980 VP, European Credit Training, London
1975 - 1978 Relationship Manager, London
1975 - 1978 Ford Motor Company (UK) LTD
Manufacturing posts
Other Past Directorships held:
ANZ National Bank Ltd
Royal Bank of Scotland Group Plc (2008 - 2012), non-executive
Director
Contractual arrangements - John McFarlane, OBE
The appointment of John McFarlane as a non-executive Director of
Barclays PLC and Barclays Bank PLC ("Bank") will become effective
on 1 January 2015.
Mr McFarlane's appointment as Chairman will become effective at
the conclusion of the Barclays PLC AGM in 2015.
Fees and Time Commitment
As a non-executive Director of Barclays, Mr McFarlane will
receive an annual fee of GBP250,000, GBP30,000 of which will be in
the form of Barclays shares.
As Chairman of Barclays, Mr McFarlane will receive an annual fee
of GBP800,000 (inclusive of the annual fee he will receive as a
non-executive Director). GBP100,000 of the annual fee received as
Chairman will be in the form of Barclays shares (replacing the
GBP30,000 of the annual fee received as a non-executive Director
being in the form of Barclays shares).
Mr McFarlane's time commitment to Barclays is expected to be 80%
of a full time role.
Benefits
Mr McFarlane will be eligible for private health insurance. He
is not eligible to participate in the Bank's incentive award and
long-term incentive schemes, nor will he participate in the Bank's
pension schemes or receive any pension contributions.
Notice Period
The appointment letter provides for a notice period of 12 months
from Barclays or a notice period of 6 months from Mr McFarlane.
Document Inspection
Mr McFarlane's appointment letter is held by Barclays Corporate
Secretariat and is available for inspection during normal business
hours at the Group's Head Office: 1 Churchill Place, London, E14
5HP.
Listing Rule 9.6.13R
There is no other information required to be disclosed pursuant
to paragraph LR9.6.13R of the Listing Rules of the Financial
Conduct Authority.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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