Barclays 2012 Annual Report Download - page 47

Appointing a new Chairman
Following the resignation of Marcus Agius as Chairman in July 2012, the Board asked me to take
the lead in finding a successor. An external search agency was briefed on the essential and
desirable experience and personal attributes required for the role, which were agreed
beforehand by the Board. It was clear to us that we needed to appoint an experienced chairman,
with financial services experience and strong governance credentials, who could provide the
Board with effective leadership and who would command the respect of both fellow Directors
and external stakeholders. Given the resignation of Bob Diamond as Chief Executive, the Board
was committed to appointing a new Chairman as quickly as possible. It was clear that any
incoming Chief Executive would need to know the identity of the new Chairman given the
pivotal importance of their relationship to the effectiveness of the Board. It was also clear that,
given the events of 2012, the minimum time commitment required of the Chairman would
increase from roughly 60% of a full-time role to 80% of a full-time role.
A long list of candidates, both internal and external, was reviewed and discussed by the
non-executive Directors during July, with the list being narrowed to a shortlist of two candidates.
Both candidates then had individual meetings with each non-executive Director and with Chris
Lucas, Group Finance Director, and feedback on each candidate was obtained. I also took
soundings on the candidates from a number of stakeholders, including Barclays principal
regulators and certain major institutional shareholders. The non-executive Directors met a
number of times to provide feedback on their meetings with each candidate and to discuss the
personal references.
Our unanimous view was that Sir David Walker was the right candidate to be appointed as
Chairman of Barclays. Sir David has significant experience in financial services, coupled with a
wealth of experience as both a director and as a chairman. He has an impeccable reputation for
governance, with an excellent understanding and experience of UK boardroom and corporate
governance issues and the role of a chairman. The Board approved Sir David’s appointment as a
non-executive Director and as Chairman-designate in early August and he subsequently joined
the Board with effect from 1 September 2012, succeeding Marcus Agius as Chairman with effect
from 1 November 2012.
I am delighted that we were able to quickly secure the services of Sir David as Chairman: he
commands great respect within the financial services industry and has brought immense
experience, integrity and knowledge to the role.
Sir John Sunderland
Independent non-executive Director
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