Barclays Plc (LON:BARC) announced that Sir Gerry Grimstone has informed the company that he has decided to step down from his roles as a Non-executive Director of Barclays PLC and Chairman of its subsidiary Barclays Bank PLC, effective at the end of February 2019.
Sir Gerry said in a statement:
“After 20 years sitting on the boards of a number of listed companies, and having recently stepped down from the chairmanship of Standard Life Aberdeen plc, it is an appropriate moment for a change. Going forward, I will be concentrating on my public sector activities in the U.K., my work with Deloitte in Europe and globally, my work in the Gulf, India, China and elsewhere in Asia-Pacific. There will doubtless be many other exciting public and private opportunities to pursue. I’m leaving Barclays in very good shape and I wish it very well for the future.”
John McFarlane, Chairman of Barclays PLC said:
“Sir Gerry has made an important contribution to Barclays, initially as Group Deputy Chairman and later as Chairman of Barclays Bank PLC where he oversaw the establishment of the subsidiary board and governance arrangements, as well as being a senior colleague on the Group Board. He has been very active in, and passionate about, the international business of the Bank and our major customers. I appreciate everything he has done for the company and his support of me, and I wish him well.”
Jes Staley, Chief Executive Officer of Barclays said:
“It has been my privilege to have worked with Sir Gerry over these past three years, first in his capacity as Deputy Chairman of the Group, and latterly as Chairman of Barclays Bank PLC. I am deeply grateful to him for the support and counsel he has provided me personally, as well as for his immense contribution to the turnaround of our Corporate & Investment Bank in particular. He has been a great steward of Barclays during his time on the Board and I wish him huge success in his future endeavours.”
Nigel Higgins, the incoming Chairman-elect of Barclays PLC who joins the Group Board on 1 March 2019, will assume the Chair of Barclays Bank PLC from 1 March 2019, subject to the relevant approvals.
