SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
31
October 2019
LLOYDS BANKING GROUP
plc
(Translation of registrant's name into
English)
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule
12g3-2(b):
82- ________
Index
to Exhibits
Item
No.
1 Regulatory News Service Announcement, dated 31 October
2019
re: Non Executive Board Changes
31 October
2019
NON-EXECUTIVE BOARD CHANGES AND SUCCESSION PLANS
Lloyds Banking Group is pleased to announce the appointment of two
Non-Executive Directors, Sarah Legg and Catherine
Woods.
Sarah Legg, who will join the Board on 1 December 2019, was Group
Financial Controller of HSBC until earlier this year, and
previously CFO for HSBC's Asia Pacific region. Sarah will join the
Board's Audit and Risk Committees. Catherine Woods will join
the Board on 1 March 2020 after retiring as Deputy Chairman and
Senior Independent Director of Allied Irish Bank in October 2019.
Catherine will join the Board's Risk and Remuneration Committees.
As with other Group NEDs, both will also serve as Non-Executive
Directors of the Group's Ring-Fenced Bank Boards.
Anita Frew will have served 9 years as a Non-Executive Director in
December 2019, and accordingly plans to step down as Senior
Independent Director in December and retire as Deputy Chairman and
Non-Executive Director at the AGM in May 2020. Alan Dickinson will
succeed Anita as Senior Independent Director as of 1 December 2019,
and will also take on the role of Deputy Chairman following Anita's
retirement from the Board.
Lord Blackwell will have served 9 years on the Group Board in 2021,
and accordingly plans to retire as Group Chairman at or before the
AGM in 2021. The Board will therefore initiate a search process
early next year once the new Senior Independent Director is in
place to allow time to identify his successor and enable an orderly
handover.
Lord Blackwell, Group Chairman, comments "We look forward to
welcoming Sarah and Catherine as new Non-Executive Directors. They
will add significant financial services experience as well as
broader perspectives and diversity to the Board. At the same time
we will miss the enormous contribution Anita Frew has made to the
Group when she steps down from the Board after serving through a
period of extraordinary transformation for the
business."
Further information on the new Non-Executive Directors is set out
below. There is no other information regarding the appointment of
Sarah Legg or Catherine Woods to be disclosed under paragraph
9.6.13R of the Listing Rules.
The Group has also made a separate announcement today that Juan
Colombás, its Chief Operating Officer and an Executive
Director, plans to retire from the Group and the Board in July
2020.
Biographical details
Sarah Legg started her career as a graduate trainee accountant with
HSBC, where she gained her CIMA qualification. After a range of
Group roles she moved to Hong Kong in 2006 to become Chief
Accounting Officer for Asia Pacific, moving up to Chief Financial
Officer for Asia Pacific in 2010 and serving as a Non-Executive
Director of the Hong Kong listed Hang Seng Bank Limited. From 2015
to March 2019 Sarah served as a Group General Manager and the Group
Financial Controller of HSBC.
Catherine Woods has served as a Non-Executive Director of Allied
Irish Banks (AIB Group) since 2010, becoming Senior Independent
Director in 2015 and Deputy Chairman in 2018 before retiring from
the Group Board on 12 October 2019. Catherine will remain on the
boards of two subsidiaries of AIB until the end of the year. She
started her career with JP Morgan Securities, becoming Head of
European Banks Equity Research in 1994 until she left in 2001. She
has since held a range of Non-Executive and Advisory roles
including Financial Expert to the Electronic Communications Appeals
Panel and the National Broadband Panel in Dublin, and Non-Executive
Director of An Post. She currently has ongoing roles as a
Non-Executive Director of Beazley and of BlackRock Asset Management
Limited Ireland.
- END -
For further information:
Investor Relations
Douglas
Radcliffe
+44 (0) 20 7356 1571
Group Investor Relations Director
Corporate Affairs
Matt
Smith
+44 (0) 20 7356 3522
Head of Media Relations
FORWARD LOOKING STATEMENTS
This document contains certain forward looking statements with
respect to the business, strategy, plans and/or results of the
Group and its current goals and expectations relating to its future
financial condition and performance. Statements that are not
historical facts, including statements about the Group's or its
directors' and/or management's beliefs and expectations, are
forward looking statements. By their nature, forward looking
statements involve risk and uncertainty because they relate to
events and depend upon circumstances that will or may occur in the
future. Factors that could cause actual business, strategy, plans
and/or results (including but not limited to the payment of
dividends) to differ materially from forward looking statements
made by the Group or on its behalf include, but are not limited to:
general economic and business conditions in the UK and
internationally; market related trends and developments;
fluctuations in interest rates, inflation, exchange rates, stock
markets and currencies; any impact of the transition from IBORs to
alternative reference rates; the ability to access sufficient
sources of capital, liquidity and funding when required; changes to
the Group's credit ratings; the ability to derive cost savings and
other benefits including, but without limitation as a result of any
acquisitions, disposals and other strategic transactions; the
ability to achieve strategic objectives; changing customer
behaviour including consumer spending, saving and borrowing habits;
changes to borrower or counterparty credit quality; concentration
of financial exposure; management and monitoring of conduct risk;
instability in the global financial markets, including Eurozone
instability, instability as a result of uncertainty surrounding the
exit by the UK from the European Union (EU) and as a result of such
exit and the potential for other countries to exit the EU or the
Eurozone and the impact of any sovereign credit rating downgrade or
other sovereign financial issues; political instability including
as a result of any UK general election; technological changes and
risks to the security of IT and operational infrastructure,
systems, data and information resulting from increased threat of
cyber and other attacks; natural, pandemic and other disasters,
adverse weather and similar contingencies outside the Group's
control; inadequate or failed internal or external processes or
systems; acts of war, other acts of hostility, terrorist acts and
responses to those acts, geopolitical, pandemic or other such
events; risks relating to climate change; changes in laws,
regulations, practices and accounting standards or taxation,
including as a result of the exit by the UK from the EU, or a
further possible referendum on Scottish independence; changes to
regulatory capital or liquidity requirements and similar
contingencies outside the Group's control; the policies, decisions
and actions of governmental or regulatory authorities or courts in
the UK, the EU, the US or elsewhere including the implementation
and interpretation of key legislation and regulation together with
any resulting impact on the future structure of the Group; the
ability to attract and retain senior management and other employees
and meet its diversity objectives; actions or omissions by the
Group's directors, management or employees including industrial
action; changes to the Group's post-retirement defined benefit
scheme obligations; the extent of any future impairment charges or
write-downs caused by, but not limited to, depressed asset
valuations, market disruptions and illiquid markets; the value and
effectiveness of any credit protection purchased by the Group; the
inability to hedge certain risks economically; the adequacy of loss
reserves; the actions of competitors, including non-bank financial
services, lending companies and digital innovators and disruptive
technologies; and exposure to regulatory or competition scrutiny,
legal, regulatory or competition proceedings, investigations or
complaints. Please refer to the latest Annual Report on Form 20-F
filed with the US Securities and Exchange Commission for a
discussion of certain factors and risks together with examples of
forward looking statements. Except as required by any applicable
law or regulation, the forward looking statements contained in this
document are made as of today's date, and the Group expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward looking statements contained in
this document to reflect any change in the Group's expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. The
information, statements and opinions contained in this document do
not constitute a public offer under any applicable law or an offer
to sell any securities or financial instruments or any advice or
recommendation with respect to such securities or financial
instruments.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
LLOYDS
BANKING GROUP plc
(Registrant)
By: Douglas
Radcliffe
Name: Douglas
Radcliffe
Title: Group
Investor Relations Director
Date: 31
October 2019