RNS Number : 8347F
Standard Chartered PLC
09 November 2022
9 November 2022
STANDARD CHARTERED PLC
ANNOUNCES CHANGES TO ITS BOARD AND COMMITTEES
Standard Chartered PLC (the "Company") today announces changes
to its Board.
Dr Linda Yueh (aged 51) has been appointed as an independent
non-executive director of the Company with effect from 1 January
Linda is a renowned economist and financial broadcaster. She has
a diverse range of experience and skills across financial services,
technology, not for -profit and business to business service
sectors. These skills, together with her international perspective
and insights are relevant to many of the markets across our
footprint. Linda recently served on the Independent Review Panel on
Ring-Fencing and Proprietary Trading for HM Treasury, which will
bring additional insights in an area of focus for the Company.
Linda is a Fellow in Economics at St Edmund Hall, Oxford University
and Adjunct Professor of Economics at London Business School and a
Visiting Professor at the LSE IDEAS at the London School of
Economics and Political Science. As a correspondent, Linda worked
with an extensive range of topics as Chief Business Correspondent
for the BBC between 2013 and 2015 and the Economics Editor at
Bloomberg News from 2010 to 2012.
Since 2017, Linda has built a successful portfolio non-executive
career. She currently serves as an independent non-executive
director of Rentokil Initial Plc and Segro Plc, both listed on the
London Stock Exchange and is Chair of the Baillie Gifford
Schiehallion Fund Ltd, an investment company listed on the
Specialist Fund Segment of the London Stock Exchange Main Market.
Linda will step down from the board of Fidelity China Special
Situations Plc where she is currently Senior Independent Director,
ahead of joining the Standard Chartered PLC Board. Between 2011 and
2013 Linda held non-executive directorships with Scottish Mortgage
Investment Trust Plc, London & Partners Ltd and JPMorgan Asia
Growth & Income Plc. Linda is Chair of the Royal Commonwealth
Society, a Trustee of Malaria No More UK and a Trustee of the
On appointment, Linda will join our Remuneration and Culture and
The Company also announces that Jasmine Whitbread, independent
non-executive Director, Chair of the Culture and Sustainability
Committee and member of the Remuneration and Governance and
Nomination Committees, has decided not to seek re-election at the
2023 AGM. She will step down at the AGM, by which time she will
have begun her ninth year on the Board.
José Viñals, Group Chairman said:
"We are delighted to welcome Linda to the Standard Chartered
Board. She is a leading economic expert and will bring experience
from a number of industries and insights from across our markets.
We look forward to benefiting from Linda's contributions at the
Board and Committee discussions.
We would also like to thank Jasmine for her passion and
dedication to the Group during her eight years on the Board.
Jasmine has chaired the Culture and Sustainability committee with
distinction and played a key role in the work of both the Board and
the Remuneration committee. We wish Jasmine all the very best for
Linda Yueh said:
"I am delighted to be joining the Board of Standard Chartered, I
look forward to contributing to the bank's admirable commitment to
sustainable finance and to their support of their customers and
For further information, please contact:
+44 20 7885 5934
Remuneration statement in relation to Linda Yueh
The independent non-executive directors do not participate in
any of the Company's incentive arrangements. As an independent
non-executive director, Linda Yueh will have a contract for
services with the Company. Linda Yueh will receive a fee of
GBP105,000 per annum for her services as an independent
non-executive director, with additional fees of GBP30,000 per annum
as a member of the Remuneration Committee and GBP30,000 per annum
as a member of the Culture and Sustainability Committee, pursuant
to the Directors' remuneration policy. 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
Additional information - Linda Yueh
Linda Yueh has no relationship with any other Director, member
of senior management or substantial or controlling shareholder of
Standard Chartered PLC.
Linda Yueh currently holds no shares in the Company.
Linda Yueh's appointment as a Director of the Company is subject
to annual re-election by shareholders and election at the 2023
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
Linda Yueh's appointment.
Additional information - Jasmine Whitbread
There are no matters relating to the retirement of Jasmine
Whitbread that need to be brought to the attention of the
shareholders of the Company.
We are a leading international banking group, with a presence in
59 of the world's most dynamic markets and serving clients in a
further 83. 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
For more stories and expert opinions please visit Insights at
sc.com . Follow Standard Chartered on Twitter , LinkedIn and
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(END) Dow Jones Newswires
November 09, 2022 07:00 ET (12:00 GMT)
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