Standard Chartered share price rises as Ruth Markland and Paul Skinner announce plans to step down from board

 
Sarah Spickernell
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The bank first announced it was shrinking its board in February (Source: Getty)

Standard Chartered has revealed a number of changes to its board of directors, including departures of two of its longest-standing members.

Non-executive directors Ruth Markland and Paul Skinner will both step down on 31 December this year, following the bank's decision in February to cut its total number of board members to 14.

In addition, independent non-executive director and chair of board risk committee Lars Thunell is stepping down to spend more time on his role as chairman of the African Risk Capacity – an organisation helping African countries prepare For natural disasters.

Taking his place will be David Conner, who was previously chief executive of OCBC Bank. Philbrick will take up the role on 1 January 2016.

Meanwhile Liz Lloyd, best known as Tony Blair's chief of staff, will replace Annemarie Durbin as the company's secretary.

Shares rose 1.7 per cent to 561 pence in morning trading

Chairman Sir John Peace said: “On behalf of the board I would like to thank Ruth, Paul, Lars and Annemarie for their significant contributions to the group. We wish them all well for the future.

"David Conner brings significant and banking and risk management experience and a deep understanding of Asian markets. I am delighted to welcome him to Standard Chartered."

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