22nd Feb 2008 08:45
Lloyds TSB Group PLC22 February 2008 14/08 22nd February, 2008 LLOYDS TSB GROUP BOARD CHANGES Earlier this month, we were delighted to announce that Sir David Manning, untilrecently Her Majesty's Ambassador to the United States of America, would jointhe board on 1st May, 2008. We are also pleased that Ewan Brown will remain on the board and continue as oursenior independent non-executive director for a further year. Jan du Plessis will succeed Ewan as chairman of the audit committee after ourannual general meeting in May of this year and Ewan will continue to give us thebenefit of his skills, knowledge and wide experience, as well as hisunderstanding of the group's activities, as a member of that committee. Ewan will stand down from the board of Lloyds TSB Scotland, where he has beenchairman for the past nine years. He will be succeeded in that post, in May, bySusan Rice, who will continue in her role as chief executive of that subsidiary. Mike Fairey, Deputy Group Chief Executive, will be retiring from the board on30th June 2008, following an illustrious career in the British banking industry,during the last seventeen years of which he has made a significant contributionto the group's business. Sir Victor Blank, Chairman, said: "We are delighted to be welcoming Sir DavidManning to the board and that we shall continue to benefit from Ewan Brown'sfinancial and banking experience. We shall be sorry to lose Mike Fairey from the board, where his wisdom andexperience have been invaluable over many years. We wish him well inretirement." - ends - NOTES TO EDITORS: Both the nomination committee and the board considered Ewan Brown's position assenior independent non-executive director very carefully and concluded thatbecause he was independent in character and there were no relationships orcircumstances which were likely to affect, or would appear to affect, hisjudgement he should remain in that role. Ewan will stand for re-election at theannual general meeting, in accordance with the provisions of the combined codeon corporate governance issued by the Financial Reporting Council which apply toindependent non-executive directors who have served on the board for more thannine years from the date of their first election. BIOGRAPHICAL DETAILS Ewan Brown CBE FRSE Joined the board and became chairman of Lloyds TSB Scotland in 1999. JoinedNoble Grossart in 1969 and was an executive director of that company untilDecember 2003. A non-executive director of Noble Grossart and Stagecoach Groupand senior governor of the Court of the University of St Andrews. A formerchairman of tie and non-executive director of John Wood Group. Aged 65. Jan P du Plessis Joined the board in 2005. Chairman of British American Tobacco. Held a numberof senior and general management appointments in Rembrandt Group from 1981,before joining Compagnie Financiere Richemont as group finance director in 1988,a position he held until 2004. A former chairman of RHM from 2005 to 2007 andgroup finance director of Rothmans International from 1990 to 1995. Aged 54. Michael E Fairey Joined TSB Group in 1991 and held a number of senior and general managementappointments before being appointed to the board in 1997 and deputy group chiefexecutive in 1998. Joined Barclays Bank in 1967 and held a number of senior andgeneral management appointments, including managing director of Barclays DirectLending Services from 1990 to 1991. A non-executive director of VTX BidcoLimited. President of The British Quality Foundation and chairman of Race forOpportunity. Aged 59. Sir David Manning GCMG CVO Joins the board on 1 May 2008. Entered the Foreign and Commonwealth Office in1972 and held senior appointments, including HM ambassador to Israel between1995 and 1998, foreign policy adviser to the Prime Minister from 2001 to 2003and HM ambassador to the USA from 2003 to 2007. Aged 58. For further information:- Investor RelationsMichael Oliver +44 (0) 20 7356 2167Director of Investor RelationsE-mail: [email protected] MediaMary Walsh +44 (0) 20 7356 2121Director of Corporate RelationsE-mail: [email protected] Kirsty ClaySenior Manager, Media Relations +44 (0) 20 7356 1517E-mail: [email protected] FORWARD LOOKING STATEMENTS This announcement contains forward looking statements with respect to thebusiness, strategy and plans of the Lloyds TSB Group, its current goals andexpectations relating to its future financial condition and performance. Bytheir nature, forward looking statements involve risk and uncertainty becausethey relate to events and depend on circumstances that will occur in the future.The Group's actual future results may differ materially from the resultsexpressed or implied in these forward looking statements as a result of avariety of factors, including UK domestic and global economic and businessconditions, risks concerning borrower credit quality, market related risks suchas interest rate risk and exchange rate risk in its banking business and equityrisk in its insurance businesses, changing demographic trends, unexpectedchanges to regulation, the policies and actions of governmental and regulatoryauthorities in the UK or jurisdictions outside the UK, including other Europeancountries and the US, exposure to legal proceedings or complaints, changes incustomer preferences, competition and other factors. Please refer to the latestAnnual Report on Form 20-F filed with the US Securities and Exchange Commissionfor a discussion of such factors. The forward looking statements contained inthis announcement are made as at the date of this announcement, and the Groupundertakes no obligation to update any of its forward looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lloyds