3rd Nov 2014 06:31
LONDON (Alliance News) - Non-executive directors at Standard Chartered PLC are intending to meet with the bank's chairman to discuss a succession plan to replace Chief Executive Peter Sands next week, the Financial Times reported on Friday.
Some of the biggest shareholders in the bank have either told or plan to tell Chairman John Peace that he would accelerate a plan to replace Sands, the FT said, citing two people familiar with the discussions.
The move comes after a poor weak for Standard Chartered, which has seen it share drop to a five-year low after it issued another profit warning and was embroiled once more in investigations in the US over breaking sanctions.
http://www.ft.com/cms/s/0/9249784a-611f-11e4-8f87-00144feabdc0.html?siteedition=uk
By Sam Unsted; [email protected]; @SamUAtAlliance
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