31st Aug 2006 15:15
Barclays PLC31 August 2006 31st August 2006 Marcus Agius appointed to succeed Matt Barrett as Chairman Barclays PLC ("Barclays") and Barclays Bank PLC ("Barclays") announce thefollowing changes to their Boards. Matthew W Barrett (62) is to retire as Chairman on 31st December 2006. MrBarrett will be succeeded by Marcus Agius (60), who is appointed a non-executiveDirector of Barclays with effect from 1st September 2006. Marcus Agius is currently a Deputy Chairman of Lazard LLC and Chairman of LazardLondon. He has been Chairman of BAA plc since 2002. With effect from 1st January2007, when he becomes Chairman of Barclays, he will relinquish allresponsibilities at Lazard. Commenting, Matt Barrett says: "It has been a great privilege to serve Barclays over the past seven years. Ithas been fulfilling to lead the transformation of the business and thetransition to a powerful new management team under John Varley. The performanceof the Group is the best in its history and, with the transition to the newmanagement team successfully completed, I am delighted to hand over theChairman's reins to Marcus Agius who brings great experience, knowledge andindependence to the role." Commenting, John Varley, Group Chief Executive, says: "Matt has been an inspirational leader at Barclays over the past seven years. Heset a clear strategy for the business and leaves the Group at a time ofconsiderable strength and record profitability. His Barclays colleagues willmiss him greatly. I am delighted that we have found a proven and strongsuccessor in Marcus Agius and I look forward to working with him." Commenting, Sir Nigel Rudd, Deputy Chairman, says: "Having led the process to appoint a successor to Matt, I am delighted thatMarcus Agius has accepted the Board's invitation to become Chairman of Barclays.He will bring enormous experience to the role. The Board owes a large debt ofgratitude to Matt for his contribution firstly as Group Chief Executive then asChairman, and we wish him well in his retirement." Commenting, Marcus Agius says: "I am very pleased at the prospect of becoming Chairman of Barclays; it is agreat company with a distinctive portfolio of businesses and a strong brand. Itis well positioned to take advantage of the opportunities arising in thefinancial services sector." ENDS Biographical details are attached. Contractual arrangements are attached. Photographs available at www.barclays.com Contacts: For further information please contact:- Media Relations Investor RelationsStephen Whitehead Anne Ramsay+44 (0) 20 7116 6060 +44 (0) 20 7116 8171 BIOGRAPHICAL NOTES: MARCUS AGIUS Education St George's College, Weybridge Trinity Hall, Cambridge (MA, Mechanical Sciences & Economics) Harvard Business School (MBA) Professional Experience: 1968 - 1970 VICKERS LTD Engineering Graduate Trainee 1972 - present LAZARD1981 Director1984 Managing Director1989 - 2002 Vice Chairman1989 - 2002 Managing Director, Lazard Freres & Co LLC2002 - date Deputy Chairman, Lazard LLC2002 - date Chairman, Lazard Bank Ltd Other company directorships: --------------- -------------------------------Formerly Carless Capel and Leonard plc Non-Executive Director 1995 - date BAA plc1995 - 1998 Non-Executive Director1998 - 2002 Deputy Chairman2002 - date Chairman 31st August 2006 Contractual Arrangements and Interests in Shares - Marcus Agius The appointment of Mr Agius as a non-executive Director of Barclays PLC andBarclays Bank PLC ("Bank") will become effective on 1st September 2006. Mr Agius will become Chairman on 1st January 2007. As a non-executive Director of Barclays, Mr Agius will receive an annual fee of£65,000 (pro rata). Service Contract From 1st January 2007, on becoming Chairman, Mr Agius will receive a base salaryof £750,000. He will also be eligible for private health insurance. The timecommitment will be equivalent to 60% of a full time role. Mr Agius is not eligible to participate in the Bank's bonus and long-termincentive schemes, nor will he participate in the Bank's pension schemes orreceive any pension contributions. Notice Period The service contract provides for a notice period of 12 months from Barclays ora notice period of 6 months from Mr Agius. Contract Availability Mr Agius' service contract will be held by the Barclays Corporate Secretariatand will be available for inspection during normal business hours at the Group'sHead Office: 1 Churchill Place, London, E14 5HP from 1st September 2006. Beneficial Interests in Barclays PLC Ordinary Shares Mr Agius has no beneficial interests in the ordinary shares of Barclays PLC. There are no other details that are required to be disclosed in respect of MrAgius' appointment under Paragraph 9.6.13 of the Listing Rules of the UK ListingAuthority. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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