In a major and surprising top management shuffle, Standard Charte
red Bank has named its Finance Director Peter Sands as the new CEO in place of Mervyn Davies, who has been catapulted to the post of Chairman. Bryan Sanderson, the current Chairman of Standard Chartered will step down after more than two years in the drivers’ seat. The bank has a strong hold in Asia and derives two-thirds of its revenue from the region. Richard Meddings, Director of Governance for Africa will take over as the new Finance Director. However, the appointment of Davies might run into trouble, as Britain’s corporate governance code discourages companies from naming Chief Executives as Chairmen.
For Complete IIPM-Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
red Bank has named its Finance Director Peter Sands as the new CEO in place of Mervyn Davies, who has been catapulted to the post of Chairman. Bryan Sanderson, the current Chairman of Standard Chartered will step down after more than two years in the drivers’ seat. The bank has a strong hold in Asia and derives two-thirds of its revenue from the region. Richard Meddings, Director of Governance for Africa will take over as the new Finance Director. However, the appointment of Davies might run into trouble, as Britain’s corporate governance code discourages companies from naming Chief Executives as Chairmen.For Complete IIPM-Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
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