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Northern Rock chairman quits
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by Yommie | October 19, 2007 at 01:43 pm
352 views | 15 Recommendations | 3 comments
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I think the Northern Rock problems are ovrblown. They actually have a chance of making it. However, maybe the resignation of the Chairman and the appointment of a new can restore confidence in the shareholders and public.
The crisis at Northern Rock claimed its first victim today when Matt Ridley, chairman of the Newcastle-based bank, resigned three days after MPs accused him of "clinging to office".In a statement to the Stock Exchange, the Northern Rock board said "the time was right" for Mr Ridley to step down and announced that he will be succeeded by Bryan Sanderson, a former chairman of Standard Chartered Bank and Bupa. He was also a main board director of BP.
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Most RecentMost Recommended Comments (3)
at 14:08 on October 19th, 2007
Yommie, thanks for this...cool perspective on something I would not have learned about otherwise. Good stuff.
at 14:37 on October 19th, 2007
No problem. You are welcome.
at 07:57 on October 20th, 2007
I agree- perception is everything: whilst I don't think (with my limited info) that Northern Rock is actually going to sink, I'm also not convinced that switching chairmen will necessarily solve their problems.