Two more non-execs join board as Barclays continues repair job

Tim Wallace
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TWO NEW non-executive directors will join Barclays’ board in September, the bank announced yesterday, as the lender continues its management shake up in the wake of the Libor scandal.

Starwood Hotels chief Frits van Paasschen is being brought in because of his experience at turning firms around.

Van Paasschen ran Coors brewers until 2007 and has board experience at Jones Apparel and Oakley.

KPMG quality and risk management head Michael Ashley is also joining the lender.

He has experience on accounting ethics boards as well as at HM Treasury’s audit committee.

“I am pleased to announce Frits and Michael’s appointments to the Barclays’ board,” said the bank’s chairman Sir David Walker.

“Both have significant experience dealing with the challenges of leading complex global businesses, which will support the board in its oversight of the delivery of Transform,” he added, referencing the plan to improve the bank’s culture and behaviour.

Meanwhile long-time director Sir Andrew Likierman will step down after nine years on the board.