Saturday, October 20, 2007

Northern Rock chairman steps down


With all due respect for Mr. Ridley and for his professional ability, he had to go, as we have said on numerous occasions in these pages!

Onésimo Alvarez-Moro

See article:
Northern Rock chairman Matt Ridley has stepped down over his role in the bank's near collapse last month.

Mr Ridley had offered to resign in September but was asked to remain in his post to testify before a parliamentary committee this week.

Northern Rock said that Bryan Sanderson would take over as chairman of the bank as soon as he has been approved by the Financial Services Authority.

Mr Sanderson is a former Chairman of BUPA and of Standard Chartered.

See full Article.