22nd Jun 2015 15:59
LONDON (Alliance News) - Royal Bank of Scotland Group PLC Monday said that Howard Davies will join the board as a non-executive director later than previously expected, owing to his commitments as the chair of the UK Airports Commission responsible for reviewing the need for additional airport capacity.
Davies, who remains set to replace Philip Hampton as group chairman on September 1, had been set to join the board as a non-executive director on Tuesday this week, the same day as the banking group's annual meeting of shareholders.
"However, given his commitment to the UK Airports Commission, until its final report is published, Sir Howard's appointment as a non-executive director will be subject to a short delay," RBS said in a statement.
Davies is joining RBS from life insurer Phoenix Group, succeeding Hampton, who left for pharmaceutical company GlaxoSmithKline PLC.
RBS shares closed up 1.5% at 354.80 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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