STANDARD CHARTERED CFO Andy Halford (pictured) may feel like the new kid in class, having been in situ for just eight months, but he’s soon to be head boy.
After many weeks of speculation, the financial services business announced the impending departure of CEO, and former FD, Peter Sands. But Sands is not the only one heading for the exit door. Chairman Sir John Peace is off – in 2016 – while its Asia chief leaves as well. Oh, and just for good measure, three non-execs go as well, including former Barclays and BZW FD Oliver Stocken.
So, you’d think poor old Andy wouldn’t have any finance pros to bounce off of in the interim. In fact, you’d imagine the boardroom to be a bit lonely – who would he pull a cracker with at Christmas?
Well, actually, there’s still ex-BP finance chief Dr Byron Grote, and ex-Barclays FD (yep, another one) Naguib Kheraj serving as non-execs.
You may be asking how many non-execs StanChart has. Well, a lot. And as part of the reshuffle, it is looking to reduce its overall board to…14.
So Andy H won’t be on his lonesome. Off Balance you knew you worried about him.