Barclays chief shown door after boardroom bust-up
The chief executive of Barclays bank has had his employment abruptly terminated following a high-level disagreement amongst the bank’s board over the future shape and make-up of the business.
Antony Jenkins was shown the door after three years in the post amidst concerns at the pace of reform at the business which bosses feared was leading to drift.
In a statement Barclays said: “The non-executive directors led by Sir Michael Rake, deputy chairman and senior independent director, concluded that new leadership is required to accelerate the pace of execution going forward.”
Sir Mike Rake added: "I reflected long and hard on the issue of group leadership and discussed this with each of the non-executive directors.
"Notwithstanding Antony’s significant achievements, it became clear to all of us that a new set of skills were required for the period ahead.”
John McFarlane has been appointed as an interim chairman from 17 July pending the appointment of a successor.