By Elena Vardon
NatWest Group has appointed Richard Haythornthwaite as its next chair, succeeding Howard Davies.
The British lender on Wednesday said that Haythornthwaite will join the board on Jan. 8 and will take over the role on April 15, when Davies stands down from the board.
Haythornthwaite, who is chair of Ocado Group, will be stepping down as a director of Globant and from his private company directorships, except in the case of his position at the Automobile Association, where he will transition from chair to nonexecutive director, it said.
He will be paid 775,000 pounds ($973,787.5) a year for his role as NatWest chair upon assuming the position, in line with Davies's fee, the bank said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
09-06-23 0907ET
