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New look board for bailed out bank
Three new non executive directors will be part of a revitalised board at the Royal Bank of Scotland. The bank is already at the centre of a furious row regarding the possible payment of millions of pounds in staff bonuses due within three weeks. The Business Secretary, Lord Mandelson warned RBS and other banks to show restraint when awarding bonuses or risk public fury.
The ex Sainsbury’s boss Sir Philip Hampton will bow preside over the five non-executive directors, he felt it was a very good time to alter the current Scot heavy balance of directors. Sir Philip said that he was confident that the bank was making “good progress” with the boards restructuring. Sir Philip replaced the out going boss of the RBS board, Sir Tom McKillop, who left two months earlier.
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