Royal Bank of Scotland Group PLC Directorate Change (0605X)
25 April 2019 - 4:01PM
UK Regulatory
TIDMRBS TIDMNATN
RNS Number : 0605X
Royal Bank of Scotland Group PLC
25 April 2019
The Royal Bank of Scotland Group plc
Director Change
RBS announces that Ross McEwan has resigned from his role as
Chief Executive Officer (CEO) and Executive Director.
Ross has a 12 month notice period and will remain in his
position until a successor has been appointed and an orderly
handover has taken place. The effective date of his departure will
be confirmed in due course.
Chairman Howard Davies said:
"For the past five and a half years Ross has worked tirelessly
to make the bank stronger and safer and played the central role in
delivering a return to profitability and dividend payments to
shareholders. The Board and I are grateful for the huge
contribution Ross has made in one of the toughest jobs in banking.
His successful execution of the strategy to refocus the bank back
on its core markets here in the UK and Ireland has helped to
deliver one of the biggest UK corporate turnarounds in history. RBS
is now well positioned to succeed in the future in what is a
rapidly evolving landscape for the banking sector. We will be
conducting an internal and external search for his successor, which
will start immediately."
CEO Ross McEwan added:
"After over five and a half very rewarding years, and with the
bank in a much stronger financial position it is time for me to
step down as CEO. It has been a privilege to lead this great bank
and to have worked with some really outstanding people in the
process. It is never easy to leave somewhere like RBS. However with
much of the restructuring done and the bank on a strong and
profitable footing, I have delivered the strategy that I set out in
2013 and now feels like the right time for me to step aside and for
a new CEO to lead the bank. I'd like to thank the Board,
shareholders and UKGI for the support they have shown me during my
time at the bank and our colleagues for the remarkable job in
turning this bank around".
Investor Relations
Alexander Holcroft
Head of Investor Relations
+44 (0) 207 672 1758
RBS Media Relations
+44 (0) 131 523 4205
Forward-looking statements
This document contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, including (but not limited to) those related to RBS
and its subsidiaries' regulatory capital position and requirements,
financial position, future pension funding and contribution
requirements, ongoing litigation and regulatory investigations,
profitability and financial performance (including financial
performance targets), structural reform and the implementation of
the UK ring-fencing regime, the implementation of RBS's
restructuring and transformation programme, impairment losses and
credit exposures under certain specified scenarios, increasing
competition from new incumbents and disruptive technologies and
RBS's exposure to political risks, operational risk, conduct risk,
cyber and IT risk and credit rating risk. In addition,
forward-looking statements may include, without limitation, the
words 'expect', 'estimate', 'project', 'anticipate', 'commit',
'believe', 'should', 'intend', 'plan', 'could', 'probability',
'risk', 'Value-at-Risk (VaR)', 'target', 'goal', 'objective',
'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and
similar expressions or variations on these expressions. These
statements concern or may affect future matters, such as RBS's
future economic results, business plans and current strategies.
Forward-looking statements are subject to a number of risks and
uncertainties that might cause actual results and performance to
differ materially from any expected future results or performance
expressed or implied by the forward-looking statements. Factors
that could cause or contribute to differences in current
expectations include, but are not limited to, legislative,
political, fiscal and regulatory developments, accounting
standards, competitive conditions, technological developments,
interest and exchange rate fluctuations and general economic
conditions. These and other factors, risks and uncertainties that
may impact any forward-looking statement or RBS's actual results
are discussed in RBS's UK 2018 Annual Report and Accounts (ARA).
The forward-looking statements contained in this document speak
only as of the date of this document and RBS does not assume or
undertake any obligation or responsibility to update any of the
forward-looking statements contained in this document, whether as a
result of new information, future events or otherwise, except to
the extent legally required.
MAR - Inside Information
This announcement contains information that qualified or may
have qualified as inside information for the purposes of Article 7
of the Market Abuse Regulation (EU) 596/2014 (MAR). For the
purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055, this announcement is made by Alexander Holcroft,
Head of Investor Relations for The Royal Bank of Scotland
Group.
Legal Entity Identifier
The Royal Bank of Scotland Group 2138005O9XJIJN4JPN90
plc
The Royal Bank of Scotland plc 549300WHU4EIHRP28H10
National Westminster Bank Plc 213800IBT39XQ9C4CP71
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END
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