13th Feb 2014 11:41
LONDON (Alliance News) - Clarkson PLC Thursday said Bob Benton will become interim chairman as Philip Green has decided to step down from the role to focus on his growing responsibilities outside the company.
Benton, who was chairman of the shipping services company until early last year, will take up the role on March 6, with Green departing from the board at the company's annual general meeting May 9.
In a statement, Clarkson said Green's other commitments would have made it difficult for him to devote enough time to its growing international shipping business.
Green is currently leading the return of challenger bank WIlliams & Glyn to the high-street and he is also chairman-designate of Carillion PLC.
Royal Bank of Scotland Group PLC is spinning off WIlliams & Glyn because it was required to do so under the state support it received after it made massive losses in the midst of the financial crisis. It is spinning off 314 UK branches with an IPO expected in the next two to three years.
Peter Backhouse, Clarksons' senior independent director, will lead the search process for a permanent new chairman.
Clarkson shares were Thursday quoted at 2,035.73 pence, up 18.73 pence, or 0.9%.
By Samuel Agini; [email protected]; @samuelagini
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