Home Wealth  Money Lloyds Banking Group Clarifies Leadership Picture

Lloyds Banking Group Clarifies Leadership Picture

Posted: Nov. 22nd, 2011  |  By Forbes

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Lloyds Banking Group updated its leadership situation today.

The firm said that, in case CEO Antonio Horta-Osorio is not able to return by the end of the year board member David Roberts would serve as interim chief executive.

Horta-Osorio is on a leave of absence, reportedly recovering from exhaustion, and chief financial officer Tim Tookey has been interim CEO in his absence.

However, Tookey is planning to leave the firm, therefore Lloyds named Roberts to take the helm in case Horta-Osorio does not return by the end of the year, although that is still expected.

Horta-Osorio took the leave just eight months after joining the firm from Banco Santander .

Late Friday, American Apparel said its acting president, Tom Casey, is resigning.

Chairman, CEO and founder Dov Charney praised Casey's work over the past 12 months.

Casey was hired by the apparel producer and retailer in October 2010 to work with Charney and key investors to validate the company's strategy, improve operating disciplines and optimize its capital structure.

Market News Video produces and distributes online videos about stocks and investing.




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