Philip Green has informed the Board of Lloyds Banking Group of his intention to
retire from the Board on 23 October 2009. He has been a director since May
2007.
Commenting on his decision to step down, Mr Green, chief executive of United
Utilities plc, said: "It has been a privilege to serve on the Board of Lloyds
Banking Group. However, given the increasing time demands on the non-executive
directors that the role quite rightly requires, I feel that now is an
appropriate time to stand down. I wish Sir Win and his colleagues all success
in the future."
Sir Win Bischoff, Chairman, Lloyds Banking Group, said: "Philip's counsel has
been important during a period of great change for the Group. While we all
understand his decision, we will miss his insight and, on behalf of the Board,
I thank him for his significant contribution."
For further information:
Investor Relations
Michael Oliver
+44 (0) 20 7356 2167
Director of Investor Relations
Email: michael.oliver@ltsb-finance.co.uk
Douglas Radcliffe +44 (0) 20 7356 1571
Senior Manager, Investor Relations
Email: douglas.radcliffe@ltsb-finance.co.uk
Media Relations
Shane O'Riordain +44 (0) 20 7356 1008
Group Communications Director
Email: shane.o'riordain@lloydsbanking.com
Leigh Calder +44 (0) 20 7356 1347
Senior Manager, Media Relations
Email: leigh.calder@lloydstsb.co.uk
FORWARD LOOKING STATEMENTS
This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds Banking Group, its current goals and
expectations relating to its future financial condition and performance. By
their nature, forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the
future. The Group's actual future results may differ materially from the
results expressed or implied in these forward looking statements as a result of
a variety of factors, including UK domestic and global economic and business
conditions, the ability to derive cost savings and other benefits as well as to
mitigate exposures from the acquisition and integration of HBOS, risks
concerning borrower quality, market related trends and developments, changing
demographic trends, changes in customer preferences, changes to regulation, the
policies and actions of governmental and regulatory authorities in the UK or
jurisdictions outside the UK, including other European countries and the US,
exposure to regulatory scrutiny, legal proceedings or complaints, competition
and other factors. Please refer to the latest Annual Report on Form 20-F filed
with the US Securities and Exchange Commission for a discussion of such
factors. The forward looking statements contained in this announcement are
made as at the date of this announcement, and the Group undertakes no
obligation to update any of its forward looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FURTHER BOARD CHANGE AT LLOYDS BANKING GROUP
| Source: Bank of Scotland