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Barclays PLC BARC Board changes

July 03, 2012

  Barclays PLC (BARC) - Board changes

RNS Number : 7533G
Barclays PLC
03 July 2012
 



 

 

                                                                   3 July 2012

                                       

                Barclays PLC and Barclays Bank PLC (Barclays)

                                       

                                Board changes

 

Barclays today announces the resignation of Bob Diamond as Chief Executive and
a Director of Barclays with immediate effect.  Marcus Agius will become
full-time Chairman and will lead the search for a new Chief Executive.  Marcus
will chair the Barclays Executive Committee pending the appointment of a new
Chief Executive and he will be supported in discharging these responsibilities
by Sir Michael Rake, Deputy Chairman.

 

The search for a new Chief Executive will commence immediately and will
consider both internal and external candidates.  The businesses will continue
to be managed by the existing leadership teams.

 

Bob Diamond said "I joined Barclays 16 years ago because I saw an opportunity
to build a world class investment banking business. Since then, I have had the
privilege of working with some of the most talented, client-focused and
diligent people that I have ever come across. We built world class businesses
together and added our own distinctive chapter to the long and proud history
of Barclays. My motivation has always been to do what I believed to be in the
best interests of Barclays. No decision over that period was as hard as the
one that I make now to stand down as Chief Executive. The external pressure
placed on Barclays has reached a level that risks damaging the franchise - I
cannot let that happen.

 

I am deeply disappointed that the impression created by the events announced
last week about what Barclays and its people stand for could not be further
from the truth. I know that each and every one of the people at Barclays works
hard every day to serve our customers and clients. That is how we support
economic growth and the communities in which we live and work. I look forward
to fulfilling my obligation to contribute to the Treasury Committee's
enquiries related to the settlements that Barclays announced last week without
my leadership in question.

 

I leave behind an extraordinarily talented management team that I know is well
placed to help the business emerge from this difficult period as one of the
leaders in the global banking industry."

 

Commenting, Marcus Agius said, "Bob Diamond has made an enormous contribution
to Barclays over the last 16 years of distinguished service to the Group,
building Barclays Investment Bank into one of the leading global investment
banks in the world.  As Chief Executive he has led the bank superbly.  I look
forward to working closely with the Chief Executives of our businesses and the
other members of the executive Committee in leading Barclays world class
businesses in serving our customers and clients and delivering value for our
shareholders."

 

                                    -Ends-

 

For further information please contact:

 

Investor Relations   Media Relations
Charlie Rozes        Giles Croot
+44 (0) 20 7116 5752 +44 (0) 20 7116 6132

 

 

About Barclays PLC

Barclays is a  major global  financial services provider  engaged in  personal 
banking, credit  cards,  corporate  and  investment  banking  and  wealth  and 
investment management with an extensive international presence in Europe,  the 
Americas, Africa and  Asia. With over  300 years of  history and expertise  in 
banking, Barclays operates in  over 50 countries  and employs 140,000  people. 
Barclays moves, lends, invests  and protects money  for customers and  clients 
worldwide.

 

For  further   information   about   Barclays,  please   visit   our   website 
www.barclays.com.

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
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