By Marcus Leach
Lord Leitch has informed the Board of Lloyds Banking Group of his intention to retire from the Board and as Chairman of Scottish Widows Group at the end of 2011 due to increasing time pressure from his other business commitments.
"The Board and I have accepted with reluctance Sandy Leitch's wish to retire from the Board after more than six years but respect his commitment to his other roles and the consequent demands on his time," Sir Win Bischoff, Chairman said.
"He has been an outstanding colleague with a well developed commercial sense and a deep interest in our people. As Chairman of one of our largest businesses, Scottish Widows Group, his background in insurance and finance and his association with Scotland have proved to be invaluable. I am delighted that Sandy has agreed to be an adviser to the Board for 2012 on our insurance and Scottish activities."
In addition to his role as Senior Independent Director, Glen Moreno will assume the role of Deputy Chairman with effect from 1 January 2012.
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