Lloyds TSB tunes board balance

From Financial Times, we see another important organization working to ensure that its Board is balanced and working as it should.

Lloyds TSB tunes board balance

By Ruth Sullivan

Published: February 1 2005 02:00 | Last updated: February 1 2005 02:00

David Pritchard, deputy chairman of Lloyds TSB, is to retire from the board and group. The bank said it was not replacing him, but was shifting its board balance towards independent non-executive directors.

Although Mr Pritchard's role was non-executive, it was not regarded as independent, the bank said.
With his departure, the board will consist of seven independent non-executives and five executive directors.
Mr Pritchard, who has worked as group executive director for wholesale and international banking and group treasurer at Lloyds TSB, will retire at the May AGM . Ruth Sullivan"